Asana, Inc. (NYSE:ASAN) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its stake in shares of Asana, Inc. (NYSE:ASAN – Get Rating) by 35.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,750 shares of the company’s stock after purchasing an additional 28,296 shares during the period. HighTower Advisors LLC owned 0.05% of Asana worth $1,498,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. AlphaCrest Capital Management LLC acquired a new position in Asana in the 1st quarter valued at $441,000. Bank of Montreal Can raised its holdings in Asana by 28.8% in the 1st quarter. Bank of Montreal Can now owns 88,411 shares of the company’s stock valued at $3,689,000 after acquiring an additional 19,777 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Asana by 53.5% in the 1st quarter. MetLife Investment Management LLC now owns 39,495 shares of the company’s stock valued at $1,579,000 after acquiring an additional 13,757 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Asana by 170.0% in the 1st quarter. Panagora Asset Management Inc. now owns 14,596 shares of the company’s stock valued at $583,000 after acquiring an additional 9,191 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Asana by 2.3% in the 1st quarter. Rhumbline Advisers now owns 76,708 shares of the company’s stock valued at $3,066,000 after acquiring an additional 1,716 shares during the last quarter. 28.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Jaffray Companies boosted their price target on Asana from $13.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, March 9th. Jefferies Financial Group boosted their price objective on shares of Asana from $15.00 to $23.00 in a research note on Thursday, March 9th. Piper Sandler boosted their price objective on shares of Asana from $13.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, March 9th. DA Davidson boosted their price objective on shares of Asana from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, March 9th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $18.00 price objective on shares of Asana in a research note on Monday, March 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.84.

Asana Stock Down 1.9 %

Shares of Asana stock opened at $20.53 on Friday. The company has a fifty day moving average price of $18.79 and a 200 day moving average price of $16.89. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.13. Asana, Inc. has a twelve month low of $11.32 and a twelve month high of $29.51. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -10.06 and a beta of 1.33.

Asana (NYSE:ASAN – Get Rating) last announced its quarterly earnings results on Wednesday, March 8th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.07. The firm had revenue of $150.23 million during the quarter, compared to analysts’ expectations of $145.13 million. Asana had a negative net margin of 74.52% and a negative return on equity of 159.46%. Equities research analysts forecast that Asana, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, insider Eleanor B. Lacey sold 1,321 shares of the company’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $20.86, for a total value of $27,556.06. Following the completion of the transaction, the insider now directly owns 165,300 shares of the company’s stock, valued at approximately $3,448,158. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Asana news, insider Eleanor B. Lacey sold 1,321 shares of the company’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $20.86, for a total value of $27,556.06. Following the completion of the transaction, the insider now directly owns 165,300 shares of the company’s stock, valued at approximately $3,448,158. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Tim M. Wan sold 3,336 shares of the company’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $20.86, for a total transaction of $69,588.96. Following the completion of the sale, the chief financial officer now owns 603,715 shares in the company, valued at approximately $12,593,494.90. The disclosure for this sale can be found here. Insiders sold a total of 25,346 shares of company stock valued at $538,214 in the last ninety days. Insiders own 61.87% of the company’s stock.

Asana Company Profile

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Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.