GSA Capital Partners LLP Invests $497,000 in Asana, Inc. (NYSE:ASAN)

GSA Capital Partners LLP purchased a new position in shares of Asana, Inc. (NYSE:ASAN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 42,881 shares of the company’s stock, valued at approximately $497,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Asana by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after purchasing an additional 490,823 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Asana in the 2nd quarter valued at approximately $17,100,000. Cubist Systematic Strategies LLC acquired a new position in Asana in the 2nd quarter valued at approximately $5,169,000. Marshall Wace LLP acquired a new position in Asana in the 2nd quarter valued at approximately $3,159,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Asana during the second quarter worth $3,050,000. Institutional investors own 26.21% of the company’s stock.

Asana Stock Performance

NYSE ASAN opened at $13.78 on Wednesday. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $23.44. The company has a 50-day simple moving average of $12.38 and a 200 day simple moving average of $13.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $3.14 billion, a PE ratio of -11.98 and a beta of 1.13.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The business had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same quarter last year, the company posted ($0.31) earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts predict that Asana, Inc. will post -1.14 EPS for the current year.

Insider Transactions at Asana

In other news, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the transaction, the insider now owns 375,310 shares in the company, valued at $4,499,966.90. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,092 shares of company stock worth $527,668 over the last quarter. Corporate insiders own 63.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ASAN. Morgan Stanley decreased their price objective on shares of Asana from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Bank of America cut their target price on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Scotiabank began coverage on shares of Asana in a research note on Monday. They set a “sector perform” rating and a $15.00 target price on the stock. KeyCorp dropped their price objective on shares of Asana from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. Finally, Piper Sandler dropped their price objective on shares of Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Asana has an average rating of “Hold” and an average price target of $14.27.

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.