Teacher Retirement System of Texas Acquires 17,649 Shares of Asana, Inc. (NYSE:ASAN)

Teacher Retirement System of Texas raised its holdings in shares of Asana, Inc. (NYSE:ASAN) by 27.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,293 shares of the company’s stock after purchasing an additional 17,649 shares during the period. Teacher Retirement System of Texas’ holdings in Asana were worth $1,199,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP bought a new position in shares of Asana during the fourth quarter valued at approximately $29,000. State of Tennessee Department of Treasury bought a new position in shares of Asana during the fourth quarter valued at approximately $135,000. GAMMA Investing LLC increased its stake in shares of Asana by 5,815.7% during the first quarter. GAMMA Investing LLC now owns 9,820 shares of the company’s stock valued at $1,430,000 after purchasing an additional 9,654 shares in the last quarter. 180 Wealth Advisors LLC bought a new position in shares of Asana during the first quarter valued at approximately $146,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Asana during the fourth quarter valued at approximately $215,000. Institutional investors own 26.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America reduced their price target on shares of Asana from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, June 4th. JMP Securities reissued a “market outperform” rating and set a $22.00 price target on shares of Asana in a research report on Wednesday, June 4th. HSBC reissued a “reduce” rating and set a $10.00 price target (down previously from $13.00) on shares of Asana in a research report on Wednesday, June 4th. KeyCorp reissued a “sector weight” rating on shares of Asana in a research report on Wednesday, June 4th. Finally, Piper Sandler raised their price target on shares of Asana from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.97.

Insider Transactions at Asana

In other Asana news, CEO Dustin A. Moskovitz purchased 225,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were acquired at an average price of $13.58 per share, for a total transaction of $3,055,500.00. Following the purchase, the chief executive officer directly owned 51,711,191 shares of the company’s stock, valued at $702,237,973.78. The trade was a 0.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sonalee Elizabeth Parekh sold 4,230 shares of Asana stock in a transaction on Friday, June 20th. The stock was sold at an average price of $13.17, for a total transaction of $55,709.10. Following the transaction, the chief financial officer owned 1,336,927 shares in the company, valued at $17,607,328.59. This represents a 0.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 811,972 shares of company stock worth $11,418,462 and have sold 33,130 shares worth $437,076. Corporate insiders own 61.28% of the company’s stock.

Asana Price Performance

NYSE ASAN opened at $13.86 on Friday. The business’s fifty day moving average price is $15.54 and its 200-day moving average price is $17.22. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -13.86 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77.

Asana (NYSE:ASAN) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $187.63 million for the quarter, compared to analysts’ expectations of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. On average, equities analysts predict that Asana, Inc. will post -1.09 earnings per share 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; 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.