Nisa Investment Advisors LLC Makes New Investment in Asana, Inc. (NYSE:ASAN)

Nisa Investment Advisors LLC acquired a new position in shares of Asana, Inc. (NYSE:ASAN) in the second quarter, Holdings Channel.com reports. The firm acquired 1,530 shares of the company’s stock, valued at approximately $95,000.

A number of other large investors also recently bought and sold shares of the business. Close Asset Management Ltd raised its position in Asana by 29.6% during the second quarter. Close Asset Management Ltd now owns 1,335 shares of the company’s stock worth $83,000 after acquiring an additional 305 shares during the period. Botty Investors LLC raised its position in Asana by 26.8% during the first quarter. Botty Investors LLC now owns 2,406 shares of the company’s stock worth $69,000 after acquiring an additional 508 shares during the period. Allen Investment Management LLC grew its holdings in shares of Asana by 9.7% during the first quarter. Allen Investment Management LLC now owns 8,897 shares of the company’s stock worth $254,000 after buying an additional 787 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Asana by 2.0% during the first quarter. Nuveen Asset Management LLC now owns 133,328 shares of the company’s stock worth $3,811,000 after buying an additional 2,615 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Asana by 237.5% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 4,371 shares of the company’s stock worth $125,000 after buying an additional 3,076 shares in the last quarter. Institutional investors own 33.87% of the company’s stock.

A number of research firms have recently issued reports on ASAN. Robert W. Baird upped their target price on shares of Asana from $50.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, September 2nd. Royal Bank of Canada upped their target price on shares of Asana from $70.00 to $75.00 and gave the stock a “sector perform” rating in a report on Thursday, September 2nd. They noted that the move was a valuation call. FBN Securities began coverage on shares of Asana in a report on Thursday, July 22nd. They set an “outperform” rating and a $80.00 target price for the company. JMP Securities upped their target price on shares of Asana from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 2nd. Finally, Piper Sandler upped their price objective on shares of Asana from $52.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $65.79.

In other Asana news, CEO Dustin A. Moskovitz purchased 160,000 shares of Asana stock in a transaction dated Monday, June 21st. The shares were acquired at an average price of $59.60 per share, with a total value of $9,536,000.00. Following the completion of the transaction, the chief executive officer now owns 2,356,724 shares of the company’s stock, valued at $140,460,750.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Chris Farinacci sold 26,072 shares of the firm’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $69.94, for a total transaction of $1,823,475.68. Following the completion of the sale, the chief operating officer now directly owns 315,072 shares in the company, valued at approximately $22,036,135.68. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,313,915 shares of company stock worth $98,884,400 and have sold 121,032 shares worth $8,422,818. 54.43% of the stock is currently owned by corporate insiders.

NYSE ASAN opened at $118.26 on Friday. The firm’s 50-day moving average is $79.75 and its two-hundred day moving average is $52.95. Asana, Inc. has a 12 month low of $20.57 and a 12 month high of $121.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $21.75 billion and a P/E ratio of -65.34.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, August 31st. The company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.03. Asana had a negative net margin of 89.91% and a negative return on equity of 288.11%. The company had revenue of $89.50 million for the quarter, compared to analysts’ expectations of $82.26 million. The business’s revenue was up 72.1% compared to the same quarter last year. As a group, analysts anticipate that Asana, Inc. will post -1.44 EPS for the current year.

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. It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.

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Institutional Ownership by Quarter for Asana (NYSE:ASAN)

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