Cubist Systematic Strategies LLC Buys New Position in Asana, Inc. (NYSE:ASAN)

Cubist Systematic Strategies LLC bought a new stake in Asana, Inc. (NYSE:ASAN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 369,511 shares of the company’s stock, valued at approximately $5,169,000. Cubist Systematic Strategies LLC owned approximately 0.16% of Asana as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. boosted its holdings in Asana by 26.2% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after purchasing an additional 669 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Asana by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after buying an additional 803 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Asana by 2.6% in the 2nd quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after acquiring an additional 900 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after acquiring an additional 1,028 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Asana by 12.1% during the first quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock worth $245,000 after acquiring an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ASAN shares. JMP Securities decreased their price target on Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a research note on Wednesday, September 4th. Royal Bank of Canada restated an “underperform” rating and set a $10.00 target price on shares of Asana in a report on Wednesday, September 4th. KeyCorp cut their price target on shares of Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, September 4th. Bank of America decreased their price objective on shares of Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Citigroup dropped their target price on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.67.

Insider Activity at Asana

In other Asana news, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the sale, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Eleanor B. Lacey sold 4,977 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,366,226.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the sale, the chief financial officer now owns 1,050,284 shares of the company’s stock, valued at $15,754,260. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,092 shares of company stock worth $752,668. Corporate insiders own 63.97% of the company’s stock.

Asana Trading Up 0.2 %

Shares of ASAN stock opened at $11.74 on Friday. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $23.44. The firm has a 50 day moving average price of $13.07 and a two-hundred day moving average price of $13.92. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.68 billion, a PE ratio of -10.03 and a beta of 1.16.

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

Asana declared that its board has approved a share buyback plan on Thursday, June 20th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Asana Company 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.