Rhumbline Advisers Acquires 3,739 Shares of Asana, Inc. (NYSE:ASAN)

Rhumbline Advisers grew its stake in shares of Asana, Inc. (NYSE:ASAN) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,556 shares of the company’s stock after purchasing an additional 3,739 shares during the quarter. Rhumbline Advisers owned approximately 0.05% of Asana worth $1,829,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ASAN. Voya Investment Management LLC grew its stake in Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock valued at $254,166,000 after purchasing an additional 937,726 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of Asana by 25.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock valued at $43,574,000 after buying an additional 438,057 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Asana in the 4th quarter worth approximately $38,966,000. First Trust Advisors LP raised its stake in shares of Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock worth $35,350,000 after acquiring an additional 261,298 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Asana by 288.1% during the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after acquiring an additional 1,043,047 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction on Monday, April 7th. The stock was bought at an average price of $13.87 per share, with a total value of $3,120,750.00. Following the completion of the transaction, the chief executive officer now directly owns 50,822,943 shares of the company’s stock, valued at approximately $704,914,219.41. This represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anne Raimondi sold 18,775 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares in the company, valued at $10,053,617.40. The trade was a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 1,399,507 shares of company stock valued at $20,739,993 over the last quarter. Corporate insiders own 61.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America dropped their price target on Asana from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, June 4th. Royal Bank Of Canada reissued an “underperform” rating and set a $10.00 target price on shares of Asana in a research report on Wednesday, June 4th. UBS Group raised their price target on shares of Asana from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. DA Davidson lowered their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group upped their target price on Asana from $15.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.97.

Asana Price Performance

ASAN stock opened at $13.32 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $16.21 and its two-hundred day moving average is $18.23. The company has a market capitalization of $3.13 billion, a PE ratio of -13.32 and a beta of 1.23. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The business had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. During the same period in the previous year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts predict that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Asana 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.