Catalyst Private Wealth LLC Has $603,000 Position in Asana, Inc. (NYSE:ASAN)

Catalyst Private Wealth LLC cut its holdings in shares of Asana, Inc. (NYSE:ASAN) by 3.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 52,029 shares of the company’s stock after selling 1,600 shares during the quarter. Catalyst Private Wealth LLC’s holdings in Asana were worth $603,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its holdings in 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 purchasing an additional 803 shares during the last quarter. Diversified Trust Co boosted its stake in Asana by 2.6% during the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock worth $489,000 after acquiring an additional 900 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Asana by 26.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after purchasing an additional 1,028 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Asana by 12.1% in the 1st quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock valued at $245,000 after buying an additional 1,710 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Asana by 11.6% in the 2nd 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 in the last quarter. 26.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Asana

In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the transaction, the insider now directly owns 375,310 shares of the company’s stock, valued at approximately $4,499,966.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction on 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 of the company’s stock, valued at approximately $4,499,966.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,092 shares of company stock worth $527,668 over the last three months. 63.97% of the stock is currently owned by insiders.

Asana Stock Performance

ASAN stock traded up $0.43 during midday trading on Tuesday, hitting $13.00. The company’s stock had a trading volume of 261,514 shares, compared to its average volume of 1,993,147. 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 stock’s 50-day moving average price is $12.16 and its 200 day moving average price is $13.31. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $23.44.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ASAN shares. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 target price on shares of Asana in a research report on Wednesday, October 23rd. Robert W. Baird dropped their price objective on shares of Asana from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. KeyCorp decreased their target price on shares of Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, September 4th. Citigroup dropped their price target 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. Finally, Piper Sandler cut their price target on Asana from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.21.

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.