Cambridge Investment Research Advisors Inc. Makes New $224,000 Investment in Asana, Inc. (NYSE:ASAN)

Cambridge Investment Research Advisors Inc. bought a new position in Asana, Inc. (NYSE:ASANGet Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,066 shares of the company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC grew its holdings in shares of Asana by 11.9% in the first quarter. Virtu Financial LLC now owns 6,195 shares of the company’s stock worth $248,000 after purchasing an additional 658 shares during the last quarter. Gables Capital Management Inc. boosted its holdings in Asana by 30.4% in the second quarter. Gables Capital Management Inc. now owns 3,000 shares of the company’s stock valued at $53,000 after acquiring an additional 700 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV boosted its holdings in Asana by 2.4% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 35,743 shares of the company’s stock valued at $795,000 after acquiring an additional 837 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Asana by 0.5% in the second quarter. JPMorgan Chase & Co. now owns 181,152 shares of the company’s stock valued at $3,185,000 after acquiring an additional 840 shares in the last quarter. Finally, FMR LLC boosted its holdings in Asana by 120.4% in the second quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after acquiring an additional 862 shares in the last quarter. Institutional investors own 28.22% of the company’s stock.

Asana Price Performance

ASAN opened at $14.33 on Monday. The stock has a 50-day moving average price of $15.61 and a 200-day moving average price of $19.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market cap of $3.05 billion, a PE ratio of -6.89 and a beta of 1.18. Asana, Inc. has a 1 year low of $11.32 and a 1 year high of $74.89.

Asana (NYSE:ASANGet Rating) last issued its earnings results on Thursday, December 1st. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.04. Asana had a negative return on equity of 190.24% and a negative net margin of 79.14%. The business had revenue of $141.44 million during the quarter, compared to analyst estimates of $138.97 million. Sell-side analysts predict that Asana, Inc. will post -2.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ASAN has been the topic of several recent analyst reports. Citigroup cut their price target on shares of Asana from $21.00 to $19.00 in a report on Friday, December 2nd. Robert W. Baird cut shares of Asana from an “outperform” rating to a “neutral” rating and cut their price target for the company from $32.00 to $15.00 in a report on Friday, December 2nd. Morgan Stanley lowered their price objective on Asana from $26.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, December 2nd. KeyCorp initiated coverage on Asana in a research report on Thursday, October 13th. They set a “sector weight” rating for the company. Finally, Moffett Nathanson initiated coverage on Asana in a research report on Thursday, September 22nd. They set a “market perform” rating and a $26.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Asana has a consensus rating of “Hold” and a consensus price target of $21.77.

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.

See Also

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Institutional Ownership by Quarter for Asana (NYSE:ASAN)

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