International Assets Investment Management LLC Invests $199,000 in Asana, Inc. (NYSE:ASAN)

International Assets Investment Management LLC bought a new position in shares of Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,456 shares of the company’s stock, valued at approximately $199,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CWM LLC increased its position in shares of Asana by 25.5% during the third quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after acquiring an additional 563 shares during the last quarter. Corton Capital Inc. increased its holdings in Asana by 6.5% in the third quarter. Corton Capital Inc. now owns 11,017 shares of the company’s stock valued at $202,000 after buying an additional 669 shares during the last quarter. Diversified Trust Co increased its holdings in Asana by 4.3% in the fourth quarter. Diversified Trust Co now owns 21,435 shares of the company’s stock valued at $407,000 after buying an additional 875 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in Asana by 2.6% in the third quarter. Sunbelt Securities Inc. now owns 44,296 shares of the company’s stock valued at $811,000 after buying an additional 1,114 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Asana in the third quarter valued at about $27,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASAN has been the subject of several research analyst reports. Bank of America initiated coverage on Asana in a report on Monday, February 26th. They issued a “buy” rating and a $25.00 price objective for the company. KeyCorp initiated coverage on Asana in a report on Thursday, March 21st. They issued an “underweight” rating and a $14.00 price objective for the company. Finally, Piper Sandler boosted their price objective on Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Asana has a consensus rating of “Hold” and a consensus price target of $20.67.

Asana Stock Performance

Shares of ASAN stock opened at $15.08 on Monday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $16.24 and a two-hundred day moving average of $18.18. Asana, Inc. has a 52 week low of $13.34 and a 52 week high of $26.27. The company has a market cap of $3.39 billion, a P/E ratio of -12.89 and a beta of 1.22.

Asana (NYSE:ASAN) last issued its earnings results on Monday, March 11th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The company 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%. As a group, analysts anticipate that Asana, Inc. will post -1.08 EPS for the current year.

Insider Transactions at Asana

In other news, CFO Tim M. Wan sold 10,105 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $155,414.90. Following the completion of the transaction, the chief financial officer now directly owns 753,888 shares in the company, valued at $11,594,797.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Asana news, COO Anne Raimondi sold 11,779 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total value of $181,161.02. Following the completion of the sale, the chief operating officer now directly owns 492,230 shares in the company, valued at $7,570,497.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tim M. Wan sold 10,105 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total value of $155,414.90. Following the completion of the sale, the chief financial officer now owns 753,888 shares of the company’s stock, valued at $11,594,797.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,733 shares of company stock worth $788,886. Company insiders own 63.26% of the company’s stock.

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; 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.