ExodusPoint Capital Management LP Purchases 47,137 Shares of Asana, Inc. (NYSE:ASAN)

ExodusPoint Capital Management LP raised its position in shares of Asana, Inc. (NYSE:ASAN) by 194.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,424 shares of the company’s stock after purchasing an additional 47,137 shares during the period. ExodusPoint Capital Management LP’s holdings in Asana were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ASAN. AlphaCrest Capital Management LLC bought a new position in shares of Asana in the first quarter worth $441,000. Bank of Montreal Can boosted its holdings in shares of Asana by 28.8% in the first quarter. Bank of Montreal Can now owns 88,411 shares of the company’s stock worth $3,689,000 after acquiring an additional 19,777 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Asana by 53.5% in the first quarter. MetLife Investment Management LLC now owns 39,495 shares of the company’s stock worth $1,579,000 after acquiring an additional 13,757 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Asana by 170.0% in the first quarter. Panagora Asset Management Inc. now owns 14,596 shares of the company’s stock worth $583,000 after acquiring an additional 9,191 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Asana by 2.3% in the first quarter. Rhumbline Advisers now owns 76,708 shares of the company’s stock worth $3,066,000 after acquiring an additional 1,716 shares during the period. 26.21% of the stock is owned by institutional investors.

Asana Stock Up 0.7 %

ASAN opened at $21.63 on Friday. The company has a market cap of $4.69 billion, a P/E ratio of -12.02 and a beta of 1.21. The business’s 50-day moving average price is $21.96 and its 200-day moving average price is $20.29. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.13. Asana, Inc. has a 12 month low of $11.32 and a 12 month high of $28.92.

Asana (NYSE:ASAN) last released its quarterly earnings data on Thursday, June 1st. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.09. The firm had revenue of $152.41 million for the quarter, compared to the consensus estimate of $150.55 million. Asana had a negative return on equity of 121.25% and a negative net margin of 63.97%. The company’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.52) earnings per share. On average, equities analysts expect that Asana, Inc. will post -1.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ASAN shares. JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 price target on shares of Asana in a report on Wednesday, August 23rd. Citigroup increased their price objective on Asana from $24.00 to $26.00 in a research report on Wednesday, June 21st. Oppenheimer increased their price objective on Asana from $25.00 to $28.00 in a research report on Friday, June 2nd. Finally, DA Davidson downgraded Asana from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Asana currently has an average rating of “Hold” and a consensus target price of $22.48.

Insider Buying and Selling

In other Asana news, CEO Dustin A. Moskovitz bought 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $21.47 per share, with a total value of $1,717,600.00. Following the completion of the purchase, the chief executive officer now directly owns 42,282,802 shares of the company’s stock, valued at $907,811,758.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Asana news, COO Anne Raimondi sold 8,005 shares of Asana stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $22.93, for a total transaction of $183,554.65. Following the sale, the chief operating officer now directly owns 559,342 shares of the company’s stock, valued at approximately $12,825,712.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dustin A. Moskovitz acquired 80,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average cost of $21.47 per share, for a total transaction of $1,717,600.00. Following the completion of the transaction, the chief executive officer now owns 42,282,802 shares in the company, valued at approximately $907,811,758.94. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,707,500 shares of company stock valued at $36,680,150 and have sold 359,959 shares valued at $8,933,088. 63.26% of the stock is owned by insiders.

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.