Dynamic Technology Lab Private Ltd Sells 41,811 Shares of Asana, Inc. (NYSE:ASAN)

Dynamic Technology Lab Private Ltd lessened its stake in shares of Asana, Inc. (NYSE:ASAN) by 60.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,810 shares of the company’s stock after selling 41,811 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Asana were worth $323,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System boosted its holdings 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 valued at $327,000 after acquiring an additional 803 shares in the last quarter. Diversified Trust Co raised its position 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 last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares in the last quarter. KBC Group NV grew its holdings in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock valued at $238,000 after buying an additional 1,769 shares during the period. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Stock Up 1.1 %

Asana stock opened at $15.31 on Friday. The company has a market capitalization of $3.49 billion, a PE ratio of -13.31 and a beta of 1.13. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $23.44. The firm’s fifty day moving average is $12.88 and its 200 day moving average is $13.25. 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 announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Asana, Inc. will post -1.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ASAN has been the topic of several recent research reports. Citigroup cut their target price on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Bank of America cut their price target on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Wednesday, October 23rd. DA Davidson lifted their target price on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Scotiabank initiated coverage on Asana in a research note on Monday, November 18th. They issued a “sector perform” rating and a $15.00 price target for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Asana presently has an average rating of “Hold” and a consensus price target of $14.27.

Insider Buying and Selling at Asana

In other Asana news, COO Anne Raimondi sold 29,807 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,092 shares of company stock worth $527,668. Insiders own 63.97% of the company’s stock.

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.