Meeder Asset Management Inc. Invests $603,000 in Asana, Inc. (NYSE:ASAN)

Meeder Asset Management Inc. bought a new stake in Asana, Inc. (NYSE:ASAN) during the third quarter, HoldingsChannel reports. The firm bought 52,012 shares of the company’s stock, valued at approximately $603,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Arizona State Retirement System grew its stake in Asana by 3.6% in the second quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after purchasing an additional 803 shares in the last quarter. Diversified Trust Co grew its stake in shares of 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 buying an additional 900 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after buying an additional 1,028 shares during the last quarter. KBC Group NV raised its position in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Asana by 12.1% in the first quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock valued at $245,000 after acquiring an additional 1,710 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ASAN shares. Bank of America lowered their price objective on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Citigroup dropped their price objective on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. JMP Securities decreased their target price on Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a report on Wednesday, September 4th. KeyCorp cut their price target on Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus target price of $14.27.

Asana Stock Performance

Shares of NYSE:ASAN opened at $13.78 on Wednesday. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $23.44. The company’s 50 day moving average price is $12.38 and its two-hundred day moving average price is $13.24. The firm has a market cap of $3.14 billion, a PE ratio of -11.98 and a beta of 1.13. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14.

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

Insider Buying and Selling

In related news, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. This 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 link. Also, insider Eleanor B. Lacey sold 9,308 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at $4,499,966.90. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,092 shares of company stock worth $527,668. Company insiders own 63.97% of the company’s stock.

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.