42,881 Shares in Asana, Inc. (NYSE:ASAN) Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new stake in Asana, Inc. (NYSE:ASAN - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,881 shares of the company's stock, valued at approximately $497,000.

A number of other institutional investors have also recently added to or reduced their stakes in ASAN. Headlands Technologies LLC raised its position in shares of Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company's stock valued at $41,000 after purchasing an additional 2,220 shares during the period. Redwood Wealth Management Group LLC bought a new position in shares of Asana in the second quarter valued at approximately $65,000. Daiwa Securities Group Inc. increased its position in Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company's stock worth $70,000 after acquiring an additional 1,028 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Asana by 139.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company's stock worth $93,000 after acquiring an additional 3,885 shares during the period. Finally, Scientech Research LLC bought a new position in Asana during the second quarter worth $146,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the sale, the insider now directly owns 370,333 shares of the company's stock, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anne Raimondi sold 29,807 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value 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. The trade was a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,092 shares of company stock valued at $527,668. 63.97% of the stock is currently owned by insiders.

Asana Price Performance

NYSE ASAN traded up $0.16 on Wednesday, hitting $13.94. 1,353,491 shares of the company were exchanged, compared to its average volume of 1,984,255. The firm has a 50 day moving average of $12.38 and a two-hundred day moving average of $13.24. The company has a market cap of $3.18 billion, a P/E ratio of -11.98 and a beta of 1.13. 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 1-year low of $11.05 and a 1-year high of $23.44.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $179.21 million for 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 firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.31) EPS. On average, equities analysts predict that Asana, Inc. will post -1.14 EPS for the current year.

Analyst Upgrades and Downgrades

ASAN has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an "underperform" rating and set a $10.00 target price on shares of Asana in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, September 4th. Robert W. Baird dropped their target price on shares of Asana from $20.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. Oppenheimer decreased their price target on shares of Asana from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 4th. Finally, JMP Securities decreased their price target on shares of Asana from $27.00 to $21.00 and set a "market outperform" rating on the stock in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Asana presently has a consensus rating of "Hold" and an average price target of $14.27.

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.