Oppenheimer & Co. Inc. Has $360,000 Position in Asana, Inc. (NYSE:ASAN)

Oppenheimer & Co. Inc. grew its stake in Asana, Inc. (NYSE:ASANGet Rating) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,460 shares of the company’s stock after purchasing an additional 1,089 shares during the period. Oppenheimer & Co. Inc.’s holdings in Asana were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ASAN. Champlain Investment Partners LLC boosted its stake in shares of Asana by 26.5% in the 1st quarter. Champlain Investment Partners LLC now owns 5,708,224 shares of the company’s stock valued at $228,158,000 after purchasing an additional 1,194,595 shares in the last quarter. Discovery Value Fund boosted its stake in shares of Asana by 71.1% in the 1st quarter. Discovery Value Fund now owns 2,238,543 shares of the company’s stock valued at $89,475,000 after purchasing an additional 929,959 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Asana by 1,624.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 506,183 shares of the company’s stock valued at $20,232,000 after purchasing an additional 476,835 shares in the last quarter. TD Asset Management Inc. boosted its position in Asana by 6,984.2% during the 1st quarter. TD Asset Management Inc. now owns 359,170 shares of the company’s stock worth $14,356,000 after buying an additional 354,100 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Asana by 26.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,577,500 shares of the company’s stock worth $63,053,000 after buying an additional 331,400 shares during the period. 28.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ASAN. Wolfe Research lifted their target price on shares of Asana from $22.00 to $23.75 and gave the stock an “outperform” rating in a research report on Thursday, September 8th. Oppenheimer cut their target price on shares of Asana to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Royal Bank of Canada lifted their target price on shares of Asana from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, September 8th. Credit Suisse Group began coverage on shares of Asana in a research report on Friday, September 23rd. They set a “neutral” rating and a $23.00 target price on the stock. Finally, Piper Sandler cut their target price on shares of Asana from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.05.

Asana Stock Performance

NYSE:ASAN opened at $19.04 on Friday. The company has a fifty day moving average of $21.66 and a 200-day moving average of $21.18. The firm has a market capitalization of $3.65 billion, a P/E ratio of -9.80 and a beta of 1.15. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.35. Asana, Inc. has a twelve month low of $15.67 and a twelve month high of $142.80.

Asana (NYSE:ASANGet Rating) last released its quarterly earnings data on Wednesday, September 7th. The company reported ($0.59) earnings per share for the quarter, meeting the consensus estimate of ($0.59). The company had revenue of $134.90 million during the quarter, compared to analyst estimates of $127.27 million. Asana had a negative net margin of 79.34% and a negative return on equity of 212.28%. Asana’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.36) EPS. As a group, sell-side analysts anticipate that Asana, Inc. will post -2.12 EPS for the current year.

Insider Activity

In other Asana news, CEO Dustin A. Moskovitz purchased 19,273,127 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was acquired at an average price of $18.16 per share, for a total transaction of $349,999,986.32. Following the purchase, the chief executive officer now owns 39,112,803 shares of the company’s stock, valued at approximately $710,288,502.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Asana news, CEO Dustin A. Moskovitz purchased 19,273,127 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was acquired at an average price of $18.16 per share, for a total transaction of $349,999,986.32. Following the purchase, the chief executive officer now owns 39,112,803 shares of the company’s stock, valued at approximately $710,288,502.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eleanor B. Lacey sold 1,855 shares of the business’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $23.60, for a total transaction of $43,778.00. Following the sale, the insider now owns 168,607 shares of the company’s stock, valued at approximately $3,979,125.20. The disclosure for this sale can be found here. Insiders sold 6,986 shares of company stock worth $165,326 in the last quarter. 61.87% of the stock is owned by corporate insiders.

Asana 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.

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Institutional Ownership by Quarter for Asana (NYSE:ASAN)

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