Blueshift Asset Management LLC Takes $642,000 Position in Asana, Inc. (NYSE:ASAN)

Blueshift Asset Management LLC acquired a new position in shares of Asana, Inc. (NYSE:ASAN) in the third quarter, HoldingsChannel reports. The fund acquired 55,402 shares of the company’s stock, valued at approximately $642,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Asana by 5.6% during the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after acquiring an additional 490,823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Asana by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company’s stock valued at $827,000 after buying an additional 3,033 shares during the period. Bayesian Capital Management LP purchased a new position in Asana in the first quarter valued at approximately $546,000. Diversified Trust Co lifted its position in Asana by 2.6% during the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after buying an additional 900 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Asana during the second quarter worth approximately $803,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Bank of America cut their target price on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. KeyCorp cut their price objective on Asana from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, September 4th. Scotiabank started coverage on Asana in a research report on Monday, November 18th. They issued a “sector perform” rating and a $15.00 target price for the company. Oppenheimer dropped their target price on Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Asana presently has a consensus rating of “Hold” and a consensus target price of $14.27.

Insider Activity at Asana

In other news, insider Eleanor B. Lacey sold 4,977 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the transaction, the insider now directly owns 370,333 shares in the company, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock valued at $527,668 over the last three months. 63.97% of the stock is owned by insiders.

Asana Stock Down 1.8 %

Shares of NYSE:ASAN opened at $15.15 on Thursday. The firm has a market cap of $3.46 billion, a PE ratio of -13.17 and a beta of 1.13. The company has a fifty day simple moving average of $12.76 and a 200 day simple moving average of $13.25. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $23.44.

Asana (NYSE:ASAN) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) EPS. On average, equities research analysts anticipate that Asana, Inc. will post -1.14 EPS for the current fiscal year.

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.