Retirement Planning Co of New England Inc. Acquires 1,906 Shares of Asana, Inc. (NYSE:ASAN)

Retirement Planning Co of New England Inc. lifted its holdings in Asana, Inc. (NYSE:ASAN) by 18.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,491 shares of the company’s stock after buying an additional 1,906 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Asana were worth $175,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Headlands Technologies LLC raised its holdings in Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after purchasing an additional 2,220 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of Asana by 26.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after purchasing an additional 669 shares during the period. Daiwa Securities Group Inc. lifted its stake in Asana by 26.0% in the 2nd 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 in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Asana during the 1st quarter worth approximately $173,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Asana during the 4th quarter worth approximately $197,000. 26.21% of the stock is owned by institutional investors.

Asana Price Performance

Shares of ASAN opened at $12.12 on Monday. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $23.44. 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 company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -10.36 and a beta of 1.16. The business has a 50-day moving average of $13.45 and a 200-day moving average of $14.36.

Asana (NYSE:ASAN) last issued 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 return on equity of 81.88% and a negative net margin of 37.73%. The company had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same period last year, the company earned ($0.31) earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Asana, Inc. will post -1.14 earnings per share for the current year.

Asana announced that its Board of Directors has approved a share buyback plan on Thursday, June 20th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 5.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Asana

In other news, CFO Tim M. Wan sold 28,856 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $330,112.64. Following the completion of the transaction, the chief financial officer now directly owns 1,050,284 shares in the company, valued at $12,015,248.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Tim M. Wan sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $15.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tim M. Wan sold 28,856 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total value of $330,112.64. Following the sale, the chief financial officer now directly owns 1,050,284 shares of the company’s stock, valued at approximately $12,015,248.96. The disclosure for this sale can be found here. Insiders sold 84,443 shares of company stock worth $1,026,976 over the last ninety days. 63.97% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ASAN shares. DA Davidson restated a “neutral” rating and issued a $11.00 price target (down previously from $14.00) on shares of Asana in a research note on Wednesday, September 4th. UBS Group decreased their price objective on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Oppenheimer reduced their target price on Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Piper Sandler reduced their target price on Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, JMP Securities reduced their price objective on Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Asana presently has an average rating of “Hold” and an average target price of $14.67.

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.