Asana, Inc. (NYSE:ASAN) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in Asana, Inc. (NYSE:ASAN) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,974 shares of the company’s stock after acquiring an additional 2,350 shares during the period. Harbor Capital Advisors Inc.’s holdings in Asana were worth $197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Washington Capital Management Inc. purchased a new stake in Asana during the 3rd quarter worth about $377,000. SG Americas Securities LLC purchased a new stake in shares of Asana during the third quarter worth approximately $456,000. Point72 Asset Management L.P. acquired a new stake in Asana in the second quarter valued at approximately $17,100,000. Susquehanna Fundamental Investments LLC purchased a new position in Asana in the second quarter worth approximately $3,050,000. Finally, Scientech Research LLC purchased a new position in Asana in the second quarter valued at $146,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Asana from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Royal Bank of Canada reiterated an “underperform” rating and set a $10.00 price target on shares of Asana in a research note on Wednesday, October 23rd. KeyCorp reduced their target price on shares of Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. DA Davidson raised their price target on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird reduced their price objective on Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.21.

Insider Activity at Asana

In other Asana news, insider Eleanor B. Lacey sold 4,977 shares of the company’s 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 transaction, the insider now directly owns 370,333 shares in the company, valued at approximately $4,366,226.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction on Monday, September 23rd. The stock was 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 directly owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the sale, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 0.00 % 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 90 days. Company insiders own 63.97% of the company’s stock.

Asana Price Performance

Shares of ASAN stock opened at $14.05 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a 50 day simple moving average of $12.14 and a 200-day simple moving average of $13.31. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $23.44.

Asana (NYSE:ASAN) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm 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%. Asana’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.31) earnings per share. Equities research analysts expect that Asana, Inc. will post -1.14 earnings per share for the current year.

About Asana

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.