HM Payson & Co. Takes $40,000 Position in Asana, Inc. (NYSE:ASAN)

HM Payson & Co. purchased a new position in Asana, Inc. (NYSE:ASAN) in the fourth quarter, Holdings Channel reports. The fund purchased 1,337 shares of the company’s stock, valued at approximately $40,000.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Asana by 20.2% during the fourth quarter. BlackRock Inc. now owns 185,150 shares of the company’s stock valued at $5,470,000 after buying an additional 31,144 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Asana in the 4th quarter valued at approximately $30,365,000. Gables Capital Management Inc. increased its holdings in shares of Asana by 200.0% in the 4th quarter. Gables Capital Management Inc. now owns 6,000 shares of the company’s stock valued at $177,000 after acquiring an additional 4,000 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Asana during the 3rd quarter valued at approximately $432,000. Finally, JPMorgan Chase & Co. bought a new position in Asana during the third quarter worth $4,833,000. 16.28% of the stock is owned by hedge funds and other institutional investors.

In other Asana news, insider Eleanor B. Lacey sold 21,500 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $32.84, for a total value of $706,060.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Chris Farinacci sold 26,072 shares of the firm’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $29.50, for a total transaction of $769,124.00. Following the transaction, the chief operating officer now owns 315,072 shares of the company’s stock, valued at approximately $9,294,624. The disclosure for this sale can be found here. Insiders sold 113,644 shares of company stock valued at $3,621,663 over the last 90 days.

A number of analysts have weighed in on ASAN shares. Zacks Investment Research cut shares of Asana from a “hold” rating to a “sell” rating in a report on Tuesday, March 30th. Credit Suisse Group increased their price objective on shares of Asana from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 17th. Piper Sandler lifted their target price on Asana from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, March 17th. Royal Bank of Canada upped their target price on Asana from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, March 17th. Finally, Morgan Stanley raised their price target on Asana from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.09.

Shares of NYSE:ASAN opened at $33.90 on Friday. The firm’s 50 day moving average is $32.38 and its two-hundred day moving average is $30.79. Asana, Inc. has a 52 week low of $20.57 and a 52 week high of $43.72.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, March 9th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The company had revenue of $68.40 million during the quarter, compared to analyst estimates of $62.72 million. The firm’s quarterly revenue was up 57.2% on a year-over-year basis. Sell-side analysts predict that Asana, Inc. will post -1.49 EPS for the current 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. 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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