68,343 Shares in Asana, Inc. (NYSE:ASAN) Acquired by Olympiad Research LP

Olympiad Research LP acquired a new stake in Asana, Inc. (NYSE:ASAN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 68,343 shares of the company's stock, valued at approximately $792,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Headlands Technologies LLC grew its stake in shares of Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company's stock worth $41,000 after purchasing an additional 2,220 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in Asana in the 2nd quarter worth approximately $65,000. Daiwa Securities Group Inc. increased its position in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company's stock valued at $70,000 after purchasing an additional 1,028 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Asana by 139.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company's stock worth $93,000 after purchasing an additional 3,885 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in shares of Asana in the 2nd quarter worth about $146,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Insider Activity

In related news, insider Eleanor B. Lacey sold 4,977 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was 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 of the company's stock, valued at approximately $4,366,226.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of Asana 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 $111,602.92. Following the transaction, the insider now owns 375,310 shares of the company's stock, valued at $4,499,966.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the sale, the insider now owns 370,333 shares in the company, valued at $4,366,226.07. The trade was a 0.00 % 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 in the last 90 days. Company insiders own 63.97% of the company's stock.

Asana Stock Performance

Shares of ASAN traded up $0.18 during trading hours on Thursday, hitting $14.05. The stock had a trading volume of 1,709,455 shares, compared to its average volume of 2,003,448. The firm has a market capitalization of $3.21 billion, a PE ratio of -12.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $23.44. The stock has a fifty day moving average price of $12.14 and a 200 day moving average price of $13.31.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results 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 in the prior year, the firm earned ($0.31) EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that Asana, Inc. will post -1.14 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on ASAN. Oppenheimer decreased their price target on shares of Asana from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, September 4th. Morgan Stanley lowered their target price on Asana from $19.00 to $15.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 20th. JPMorgan Chase & Co. reduced their price target on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, September 4th. JMP Securities dropped their target price on shares of Asana from $27.00 to $21.00 and set a "market outperform" rating on the stock in a report on Wednesday, September 4th. Finally, Robert W. Baird reduced 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $14.21.

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.