Oppenheimer & Co. Inc. Purchases 3,036 Shares of Asana, Inc. (NYSE:ASAN)

Oppenheimer & Co. Inc. lifted its position in Asana, Inc. (NYSE:ASAN) by 13.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,913 shares of the company’s stock after purchasing an additional 3,036 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Asana were worth $548,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ASAN. US Bancorp DE increased its stake in Asana by 118.7% in the first quarter. US Bancorp DE now owns 1,216 shares of the company’s stock valued at $26,000 after acquiring an additional 660 shares during the last quarter. FMR LLC increased its stake 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 during the last quarter. FNY Investment Advisers LLC bought a new position in Asana in the first quarter valued at $33,000. HBK Sorce Advisory LLC increased its stake in Asana by 100.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 30,000 shares of the company’s stock valued at $34,000 after acquiring an additional 15,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Asana by 765.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,829 shares of the company’s stock valued at $39,000 after acquiring an additional 2,502 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Insider Buying and Selling

In related news, CEO Dustin A. Moskovitz purchased 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $21.62 per share, with a total value of $1,729,600.00. Following the completion of the purchase, the chief executive officer now directly owns 41,962,802 shares in the company, valued at $907,235,779.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Dustin A. Moskovitz purchased 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $21.62 per share, with a total value of $1,729,600.00. Following the completion of the purchase, the chief executive officer now directly owns 41,962,802 shares in the company, valued at $907,235,779.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dustin A. Moskovitz purchased 507,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $20.02 per share, with a total value of $10,160,150.00. Following the completion of the purchase, the chief executive officer now owns 41,700,303 shares of the company’s stock, valued at $834,840,066.06. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,467,500 shares of company stock valued at $31,516,950 and sold 359,959 shares valued at $8,933,088. 63.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ASAN shares. Oppenheimer increased their target price on Asana from $25.00 to $28.00 in a research note on Friday, June 2nd. DA Davidson lowered shares of Asana from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research report on Friday, June 2nd. Citigroup upped their price target on shares of Asana from $24.00 to $26.00 in a research report on Wednesday, June 21st. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Asana in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus target price of $22.48.

Asana Stock Performance

Asana stock opened at $21.20 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $22.09 and a 200-day moving average of $20.15. The firm has a market cap of $4.60 billion, a P/E ratio of -11.78 and a beta of 1.21. Asana, Inc. has a 1-year low of $11.32 and a 1-year high of $28.92.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, June 1st. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. Asana had a negative net margin of 63.97% and a negative return on equity of 121.25%. The company had revenue of $152.41 million during the quarter, compared to analyst estimates of $150.55 million. During the same period in the prior year, the business posted ($0.52) earnings per share. Asana’s revenue for the quarter was up 26.3% on a year-over-year basis. Sell-side analysts expect that Asana, Inc. will post -1.33 EPS for the current year.

Asana Company 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; and manages product launches, marketing campaigns, and organization-wide goal settings.