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

Nisa Investment Advisors LLC purchased a new position in Asana, Inc. (NYSE:ASAN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,530 shares of the company’s stock, valued at approximately $95,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Close Asset Management Ltd bought a new position in Asana in the first quarter worth approximately $29,000. Botty Investors LLC raised its position in Asana by 26.8% in 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. Mount Yale Investment Advisors LLC bought a new position in Asana in the second quarter worth approximately $207,000. Perigon Wealth Management LLC purchased a new stake in shares of Asana in the second quarter worth $257,000. Finally, Global Wealth Management Investment Advisory Inc. increased its stake in shares of Asana by 237.5% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 4,371 shares of the company’s stock worth $125,000 after purchasing an additional 3,076 shares in the last quarter. Institutional investors and hedge funds own 33.87% of the company’s stock.

Shares of NYSE:ASAN opened at $118.26 on Friday. Asana, Inc. has a 52 week low of $20.57 and a 52 week high of $121.38. The stock has a market capitalization of $21.75 billion and a P/E ratio of -65.34. The firm has a fifty day simple moving average of $79.75 and a two-hundred day simple moving average of $52.95. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.13.

Asana (NYSE:ASAN) last released its earnings results on Tuesday, August 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. The firm had revenue of $89.50 million during the quarter, compared to analyst estimates of $82.26 million. Asana had a negative net margin of 89.91% and a negative return on equity of 288.11%. The company’s revenue for the quarter was up 72.1% compared to the same quarter last year. On average, analysts expect that Asana, Inc. will post -1.44 earnings per share for the current year.

A number of analysts have recently issued reports on ASAN shares. Zacks Investment Research raised shares of Asana from a “sell” rating to a “hold” rating in a research note on Wednesday, August 4th. Robert W. Baird increased their price objective on shares of Asana from $50.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, September 2nd. FBN Securities started coverage on shares of Asana in a research note on Thursday, July 22nd. They issued an “outperform” rating and a $80.00 price objective for the company. JMP Securities increased their price objective on shares of Asana from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, September 2nd. Finally, Wolfe Research increased their price objective on shares of Asana from $48.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, July 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $65.79.

In related news, CEO Dustin A. Moskovitz acquired 13,915 shares of the firm’s stock in a transaction that occurred on Monday, September 13th. The stock was bought at an average price of $100.00 per share, for a total transaction of $1,391,500.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, COO Chris Farinacci sold 26,072 shares of Asana stock in a transaction dated 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 sale, the chief operating officer now owns 315,072 shares of the company’s stock, valued at approximately $22,036,135.68. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,313,915 shares of company stock valued at $98,884,400 and sold 121,032 shares valued at $8,422,818. 54.43% of the stock is currently owned by company insiders.

Asana Company 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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