Arizona State Retirement System Grows Stake in Asana, Inc. (NYSE:ASAN)

Arizona State Retirement System raised its stake in Asana, Inc. (NYSE:ASAN – Get Rating) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,484 shares of the company’s stock after acquiring an additional 2,427 shares during the period. Arizona State Retirement System’s holdings in Asana were worth $268,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Asana by 2.2% during the third quarter. Vanguard Group Inc. now owns 6,857,364 shares of the company’s stock valued at $152,440,000 after buying an additional 148,214 shares during the last quarter. State Street Corp boosted its position in shares of Asana by 6.5% during the first quarter. State Street Corp now owns 2,175,814 shares of the company’s stock valued at $86,967,000 after buying an additional 131,911 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Asana by 26.6% during the first quarter. Renaissance Technologies LLC now owns 1,577,500 shares of the company’s stock valued at $63,053,000 after buying an additional 331,400 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Asana by 46.7% during the third quarter. Two Sigma Investments LP now owns 1,498,281 shares of the company’s stock valued at $33,307,000 after buying an additional 477,239 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Asana by 11.7% during the third quarter. First Trust Advisors LP now owns 1,150,108 shares of the company’s stock valued at $25,567,000 after buying an additional 120,270 shares during the last quarter. 28.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Asana

In other Asana news, insider Eleanor B. Lacey sold 1,321 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $20.86, for a total transaction of $27,556.06. Following the completion of the transaction, the insider now owns 165,300 shares in the company, valued at approximately $3,448,158. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Eleanor B. Lacey sold 1,321 shares of Asana stock in a transaction that occurred on Thursday, March 23rd. The stock was 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 owns 165,300 shares in the company, valued at approximately $3,448,158. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Tim M. Wan sold 3,336 shares of Asana stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $20.86, for a total value of $69,588.96. Following the completion of the transaction, the chief financial officer now owns 603,715 shares of the company’s stock, valued at approximately $12,593,494.90. The disclosure for this sale can be found here. Insiders sold 25,346 shares of company stock worth $538,214 in the last quarter. 61.87% of the stock is owned by corporate insiders.

Asana Stock Up 1.7 %

Shares of ASAN opened at $20.88 on Wednesday. The business’s 50 day moving average is $18.85 and its 200 day moving average is $16.83. The company has a market capitalization of $4.48 billion, a PE ratio of -10.24 and a beta of 1.34. Asana, Inc. has a 12-month low of $11.32 and a 12-month high of $29.51. 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 (NYSE:ASAN – Get Rating) last issued its earnings results on Wednesday, March 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.07. The company had revenue of $150.23 million for the quarter, compared to the consensus estimate of $145.13 million. Asana had a negative return on equity of 159.46% and a negative net margin of 74.52%. Research analysts expect that Asana, Inc. will post -1.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ASAN has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Asana in a research report on Thursday, March 9th. JMP Securities reissued a “market outperform” rating and issued a $28.00 target price on shares of Asana in a report on Thursday, April 6th. Piper Jaffray Companies increased their target price on Asana from $13.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, March 9th. Credit Suisse Group reissued a “neutral” rating and issued a $18.00 target price on shares of Asana in a report on Monday, March 13th. Finally, Jefferies Financial Group increased their target price on Asana from $15.00 to $23.00 in a report on Thursday, March 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Asana presently has a consensus rating of “Hold” and an average price target of $21.84.

Asana Company Profile

(Get Rating)

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.