Fox Run Management L.L.C. Increases Stock Holdings in Asana, Inc. (NYSE:ASAN)

Fox Run Management L.L.C. increased its holdings in Asana, Inc. (NYSE:ASANFree Report) by 207.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,345 shares of the company’s stock after acquiring an additional 22,511 shares during the quarter. Fox Run Management L.L.C.’s holdings in Asana were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CWM LLC lifted its stake in Asana by 25.5% in the third quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after acquiring an additional 563 shares during the period. National Bank of Canada FI lifted its position in Asana by 5.8% during the second quarter. National Bank of Canada FI now owns 11,290 shares of the company’s stock valued at $248,000 after buying an additional 620 shares during the period. Virtu Financial LLC lifted its position in Asana by 11.9% during the first quarter. Virtu Financial LLC now owns 6,195 shares of the company’s stock valued at $248,000 after buying an additional 658 shares during the period. Commonwealth Equity Services LLC lifted its position in Asana by 5.1% during the first quarter. Commonwealth Equity Services LLC now owns 14,789 shares of the company’s stock valued at $312,000 after buying an additional 718 shares during the period. Finally, Advisor Group Holdings Inc. lifted its position in Asana by 4.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 16,847 shares of the company’s stock valued at $231,000 after buying an additional 777 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Insider Activity

In related news, CFO Tim M. Wan sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $19.05, for a total value of $95,250.00. Following the completion of the sale, the chief financial officer now directly owns 763,993 shares of the company’s stock, valued at approximately $14,554,066.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Tim M. Wan sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $19.05, for a total value of $95,250.00. Following the completion of the sale, the chief financial officer now directly owns 763,993 shares of the company’s stock, valued at approximately $14,554,066.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eleanor B. Lacey sold 6,895 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $19.35, for a total transaction of $133,418.25. Following the completion of the sale, the insider now directly owns 229,621 shares of the company’s stock, valued at $4,443,166.35. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock valued at $557,807 in the last quarter. 63.26% of the stock is currently owned by insiders.

Asana Stock Performance

ASAN opened at $18.43 on Wednesday. Asana, Inc. has a 52-week low of $14.30 and a 52-week high of $26.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.88 and a current ratio of 1.88. The company’s 50-day simple moving average is $19.36 and its two-hundred day simple moving average is $19.76.

Asana (NYSE:ASANGet Free Report) last released its quarterly earnings results on Tuesday, December 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.07. Asana had a negative net margin of 45.86% and a negative return on equity of 80.39%. The firm had revenue of $166.50 million during the quarter, compared to analyst estimates of $164.09 million. During the same quarter in the prior year, the firm earned ($0.49) EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, research analysts forecast that Asana, Inc. will post -1.2 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ASAN. Citigroup lowered their price objective on Asana from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, October 4th. Piper Sandler raised their price objective on Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. HSBC lowered Asana from a “hold” rating to a “reduce” rating and set a $18.00 price target for the company. in a research report on Wednesday, December 6th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Asana in a research report on Wednesday, October 4th. Finally, FBN Securities lowered their price target on Asana from $28.00 to $23.00 in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Check Out Our Latest Research Report on Asana

About Asana

(Free Report)

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; and manages product launches, marketing campaigns, and organization-wide goal settings.

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Institutional Ownership by Quarter for Asana (NYSE:ASAN)

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