Raymond James Financial Services Advisors Inc. Buys 2,762 Shares of Asana, Inc. (NYSE:ASAN)

Raymond James Financial Services Advisors Inc. raised its stake in Asana, Inc. (NYSE:ASAN) by 3.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 90,196 shares of the company’s stock after acquiring an additional 2,762 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Asana were worth $1,715,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ASAN. Lazard Asset Management LLC boosted its position in shares of Asana by 117.7% during the 3rd quarter. Lazard Asset Management LLC now owns 1,463 shares of the company’s stock valued at $26,000 after purchasing an additional 791 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Asana during the 3rd quarter valued at about $27,000. FMR LLC boosted its position in shares of Asana by 120.4% during the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after purchasing an additional 862 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Asana by 765.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,829 shares of the company’s stock valued at $39,000 after purchasing an additional 2,502 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Asana by 1,015.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company’s stock valued at $46,000 after purchasing an additional 2,294 shares in the last quarter. Institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ASAN shares. Piper Sandler upped their target price on Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. KeyCorp assumed coverage on Asana in a research note on Thursday, March 21st. They set an “underweight” rating and a $14.00 price target on the stock. Finally, Bank of America assumed coverage on Asana in a research note on Monday, February 26th. They set a “buy” rating and a $25.00 price target on the stock. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Asana currently has an average rating of “Hold” and a consensus target price of $20.67.

Asana Stock Performance

Shares of Asana stock opened at $14.96 on Friday. The company has a market cap of $3.36 billion, a PE ratio of -12.79 and a beta of 1.22. Asana, Inc. has a 52 week low of $14.37 and a 52 week high of $26.27. The business has a 50 day moving average price of $17.23 and a 200-day moving average price of $18.42. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.13.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. The firm had revenue of $171.14 million during the quarter, compared to the consensus estimate of $167.59 million. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. Equities analysts anticipate that Asana, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Asana

In other news, insider Eleanor B. Lacey sold 4,462 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $15.47, for a total value of $69,027.14. Following the completion of the sale, the insider now directly owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Eleanor B. Lacey sold 4,462 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $15.47, for a total value of $69,027.14. Following the completion of the transaction, the insider now directly owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Anne Raimondi sold 11,779 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total value of $181,161.02. Following the completion of the transaction, the chief operating officer now directly owns 492,230 shares of the company’s stock, valued at $7,570,497.40. The disclosure for this sale can be found here. Insiders sold a total of 31,733 shares of company stock valued at $488,886 over the last ninety days. 63.26% of the stock is currently owned by insiders.

About Asana

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; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.