39,303 Shares in Asana, Inc. (NYSE:ASAN) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in Asana, Inc. (NYSE:ASAN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,303 shares of the company’s stock, valued at approximately $456,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ASAN. Price T Rowe Associates Inc. MD raised its stake in Asana by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company’s stock valued at $827,000 after purchasing an additional 3,033 shares during the period. Diversified Trust Co grew its stake in Asana by 2.6% in the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after purchasing an additional 900 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Asana during the 2nd quarter valued at $803,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Asana by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after purchasing an additional 1,769 shares during the last quarter. Finally, Versor Investments LP grew its stake in Asana by 48.3% during the 2nd quarter. Versor Investments LP now owns 23,200 shares of the company’s stock valued at $325,000 after purchasing an additional 7,557 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Price Performance

Asana stock opened at $15.12 on Tuesday. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $23.44. The firm has a market capitalization of $3.45 billion, a P/E ratio of -13.14 and a beta of 1.13. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $12.88 and a 200-day moving average of $13.23.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The business had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same quarter last year, the firm posted ($0.31) EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts anticipate that Asana, Inc. will post -1.14 EPS for the current year.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the sale, the insider now owns 370,333 shares of the company’s stock, valued at $4,366,226.07. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,092 shares of company stock valued at $527,668. 63.97% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ASAN. DA Davidson upped their target price on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup reduced their target price on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Oppenheimer lowered their target price on shares of Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. cut their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, September 4th. Finally, UBS Group dropped their target price on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.27.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.