Neo Ivy Capital Management Grows Stock Holdings in Asana, Inc. (NYSE:ASAN)

Neo Ivy Capital Management raised its position in shares of Asana, Inc. (NYSE:ASAN) by 195.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 169,454 shares of the company’s stock after buying an additional 112,038 shares during the quarter. Neo Ivy Capital Management owned about 0.07% of Asana worth $1,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ASAN. Headlands Technologies LLC raised its position in shares of Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after purchasing an additional 2,220 shares during the last quarter. KBC Group NV raised its position in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares during the last quarter. Quest Partners LLC purchased a new position in Asana during the 3rd quarter worth approximately $43,000. Redwood Wealth Management Group LLC purchased a new position in Asana during the 2nd quarter worth approximately $65,000. Finally, Daiwa Securities Group Inc. raised its position in 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 buying an additional 1,028 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Oppenheimer raised their price target on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price target on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Robert W. Baird raised their price target on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. JMP Securities raised their price target on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. Finally, Bank of America reduced their price target 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.53.

Asana Stock Performance

ASAN opened at $23.42 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a fifty day moving average price of $13.64 and a 200 day moving average price of $13.34. The stock has a market cap of $5.34 billion, a P/E ratio of -20.91 and a beta of 1.22. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $26.10.

Insiders Place Their Bets

In other Asana news, insider Eleanor B. Lacey sold 9,308 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 transaction of $111,602.92. Following the completion of the transaction, the insider now directly owns 375,310 shares in the company, valued at approximately $4,499,966.90. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,092 shares of company stock worth $527,668. Company 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.