Eagle Asset Management Inc. Has $40.10 Million Stake in Asana, Inc. (NYSE:ASAN)

Eagle Asset Management Inc. boosted its holdings in Asana, Inc. (NYSE:ASAN – Get Rating) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 523,709 shares of the company’s stock after purchasing an additional 17,343 shares during the quarter. Eagle Asset Management Inc. owned 0.28% of Asana worth $40,100,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MFA Wealth Advisors LLC acquired a new stake in Asana in the 3rd quarter worth about $27,000. Bellwether Advisors LLC acquired a new stake in Asana in the 4th quarter worth about $28,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Asana in the 4th quarter valued at approximately $36,000. Rockefeller Capital Management L.P. raised its position in shares of Asana by 133.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 415 shares of the company’s stock valued at $43,000 after buying an additional 237 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Asana by 35.9% in the 3rd quarter. US Bancorp DE now owns 481 shares of the company’s stock valued at $50,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Asana from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $66.00 to $32.00 in a research report on Thursday, March 10th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Asana from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Morgan Stanley dropped their target price on shares of Asana from $64.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, March 14th. JMP Securities dropped their target price on shares of Asana from $95.00 to $63.00 and set a “market outperform” rating for the company in a research report on Thursday, March 10th. Finally, Robert W. Baird lowered their price objective on shares of Asana from $110.00 to $65.00 in a research report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus target price of $61.54.

In other news, insider Eleanor B. Lacey sold 4,167 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $29.50, for a total value of $122,926.50. Following the sale, the insider now directly owns 165,076 shares of the company’s stock, valued at approximately $4,869,742. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eleanor B. Lacey sold 1,359 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $34.64, for a total transaction of $47,075.76. The disclosure for this sale can be found here. Insiders have sold a total of 38,026 shares of company stock worth $1,871,164 over the last three months. Insiders own 54.43% of the company’s stock.

ASAN opened at $21.43 on Friday. Asana, Inc. has a fifty-two week low of $17.87 and a fifty-two week high of $145.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -13.23 and a beta of 1.90. The company’s 50 day moving average price is $32.44 and its two-hundred day moving average price is $60.07.

Asana (NYSE:ASAN – Get Rating) last posted its earnings results on Wednesday, March 9th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.05). Asana had a negative return on equity of 158.77% and a negative net margin of 76.19%. The business had revenue of $111.95 million for the quarter, compared to the consensus estimate of $105.18 million. During the same period in the previous year, the firm earned ($0.32) earnings per share. The company’s revenue was up 63.7% compared to the same quarter last year. As a group, equities research analysts predict that Asana, Inc. will post -2.13 EPS for the current year.

Asana Profile (Get Rating)

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.

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