Edmond DE Rothschild Holding S.A. Trims Stock Position in Asana, Inc. (NYSE:ASAN)

Edmond DE Rothschild Holding S.A. reduced its position in shares of Asana, Inc. (NYSE:ASAN) by 31.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,211 shares of the company’s stock after selling 1,014 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Asana were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Asana by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,213,830 shares of the company’s stock worth $168,705,000 after buying an additional 434,003 shares during the period. Beacon Pointe Advisors LLC boosted its position in Asana by 13.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 38,276 shares of the company’s stock valued at $728,000 after purchasing an additional 4,401 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Asana by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock valued at $13,236,000 after purchasing an additional 43,564 shares during the last quarter. Victory Capital Management Inc. bought a new position in Asana in the fourth quarter worth about $197,000. Finally, Quest Partners LLC purchased a new stake in shares of Asana during the fourth quarter valued at about $260,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ASAN shares. Jefferies Financial Group cut their price objective on shares of Asana from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, May 31st. HSBC raised shares of Asana from a “reduce” rating to a “hold” rating and decreased their price target for the stock from $16.00 to $14.00 in a report on Monday, June 3rd. KeyCorp dropped their price objective on shares of Asana from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. UBS Group reduced their target price on Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Finally, Piper Sandler dropped their price target on Asana from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus price target of $18.17.

Asana Stock Up 1.4 %

Shares of NYSE ASAN traded up $0.21 during midday trading on Wednesday, hitting $14.78. The company’s stock had a trading volume of 2,601,516 shares, compared to its average volume of 2,085,114. Asana, Inc. has a 1 year low of $11.29 and a 1 year high of $24.81. The business’s fifty day simple moving average is $13.77 and its two-hundred day simple moving average is $15.85. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -12.63 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. The business had revenue of $172.45 million during the quarter, compared to analysts’ expectations of $168.53 million. On average, equities analysts predict that Asana, Inc. will post -1.05 EPS for the current year.

Insider Activity at Asana

In related news, CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the sale, the chief financial officer now directly owns 753,888 shares in the company, valued at approximately $11,308,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eleanor B. Lacey sold 4,999 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $12.95, for a total value of $64,737.05. Following the completion of the sale, the insider now directly owns 384,150 shares of the company’s stock, valued at $4,974,742.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the chief financial officer now owns 753,888 shares in the company, valued at approximately $11,308,320. The disclosure for this sale can be found here. Insiders sold 89,443 shares of company stock valued at $1,101,976 over the last three months. 63.97% of the stock is owned by corporate 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; 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.