Centiva Capital LP Grows Position in Asana, Inc. (NYSE:ASAN)

Centiva Capital LP lifted its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 88.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,989 shares of the company's stock after acquiring an additional 30,084 shares during the quarter. Centiva Capital LP's holdings in Asana were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in Asana by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 53,368 shares of the company's stock valued at $827,000 after acquiring an additional 3,033 shares during the last quarter. Diversified Trust Co grew its stake in Asana by 2.6% during the second quarter. Diversified Trust Co now owns 34,985 shares of the company's stock worth $489,000 after purchasing an additional 900 shares during the period. Neo Ivy Capital Management bought a new stake in Asana in the second quarter worth approximately $803,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company's stock valued at $238,000 after buying an additional 1,769 shares during the period. Finally, Versor Investments LP lifted its stake in Asana by 48.3% in the second quarter. Versor Investments LP now owns 23,200 shares of the company's stock valued at $325,000 after buying an additional 7,557 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Stock Up 43.5 %

Shares of ASAN stock traded up $6.73 on Friday, hitting $22.19. The stock had a trading volume of 23,918,113 shares, compared to its average volume of 1,698,546. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The business has a 50 day moving average of $13.37 and a 200 day moving average of $13.30. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $22.54. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm had revenue of $179.21 million during the quarter, compared to analyst estimates of $177.68 million. During the same quarter last year, the business posted ($0.31) EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts expect that Asana, Inc. will post -1.14 EPS for the current year.

Insider Activity

In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the sale, the insider now owns 375,310 shares of the company's stock, valued at approximately $4,499,966.90. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Anne Raimondi sold 29,807 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now directly owns 761,088 shares of the company's stock, valued at $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. 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. Corporate insiders own 63.97% of the company's stock.

Wall Street Analysts Forecast Growth

ASAN has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on shares of Asana from $14.00 to $18.00 and gave the company an "equal weight" rating in a research note on Friday. Citigroup decreased their price target on shares of Asana from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, September 4th. DA Davidson increased their price objective on shares of Asana from $13.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday. Piper Sandler boosted their target price on Asana from $12.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday. Finally, UBS Group reduced their price objective on Asana from $17.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.53.

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.