Asana, Inc. (NYSE:ASAN) Shares Acquired by KBC Group NV

KBC Group NV boosted its holdings in Asana, Inc. (NYSE:ASAN) by 52.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,534 shares of the company’s stock after purchasing an additional 1,211 shares during the quarter. KBC Group NV’s holdings in Asana were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in Asana during the 2nd quarter worth $17,100,000. Vanguard Group Inc. boosted its position in shares of Asana by 5.6% during the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after buying an additional 490,823 shares during the period. Cubist Systematic Strategies LLC bought a new position in Asana in the 2nd quarter valued at about $5,169,000. Marshall Wace LLP acquired a new position in shares of Asana during the second quarter valued at approximately $3,159,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Asana during the second quarter valued at about $3,050,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Scotiabank initiated coverage on shares of Asana in a research report on Monday, November 18th. They issued a “sector perform” rating and a $15.00 price target on the stock. Bank of America dropped their price objective on Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, September 4th. KeyCorp reduced their price objective on shares of Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Finally, Citigroup lowered 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.27.

Insider Activity

In other Asana news, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. The trade was a 3.77 % decrease in their ownership of the stock. 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 dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the transaction, the insider now directly owns 370,333 shares in the company, 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. Insiders sold 44,092 shares of company stock worth $527,668 over the last quarter. 63.97% of the stock is currently owned by company insiders.

Asana Trading Up 6.9 %

ASAN opened at $15.74 on Friday. The firm has a 50 day simple moving average of $12.55 and a 200 day simple moving average of $13.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $23.44. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -13.69 and a beta of 1.13.

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

Asana Profile

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.