Whetstone Capital Advisors LLC Lowers Stock Holdings in Asana, Inc. (NYSE:ASAN)

Whetstone Capital Advisors LLC lessened its position in Asana, Inc. (NYSE:ASAN) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 381,716 shares of the company’s stock after selling 2,284 shares during the quarter. Asana accounts for approximately 2.1% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 19th biggest position. Whetstone Capital Advisors LLC’s holdings in Asana were worth $4,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System boosted its position in Asana by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock valued at $327,000 after buying an additional 803 shares during the period. Diversified Trust Co boosted its holdings in Asana by 2.6% in the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after purchasing an additional 900 shares during the period. Daiwa Securities Group Inc. grew its stake in Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares in the last quarter. KBC Group NV grew its stake in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Asana by 12.1% during the 1st quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock worth $245,000 after purchasing an additional 1,710 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eleanor B. Lacey sold 4,977 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the transaction, the insider now owns 370,333 shares of the company’s stock, valued at $4,366,226.07. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock worth $527,668 over the last 90 days. Company insiders own 63.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ASAN. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Wednesday, October 23rd. UBS Group reduced their price objective on shares of Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Citigroup lowered their target price on shares of Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. KeyCorp cut their price target on Asana from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Asana presently has a consensus rating of “Hold” and an average target price of $14.27.

Asana Stock Up 2.4 %

ASAN opened at $16.12 on Monday. The business has a 50 day moving average price of $12.55 and a two-hundred day moving average price of $13.23. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $23.44. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14.

Asana (NYSE:ASAN) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $179.21 million during the quarter, compared to analysts’ expectations of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.31) earnings per share. On average, equities research analysts predict that Asana, Inc. will post -1.14 EPS for the current fiscal 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. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.