Stanley Laman Group Ltd. Has $6.30 Million Stock Holdings in Asana, Inc. (NYSE:ASAN)

Stanley Laman Group Ltd. decreased its stake in Asana, Inc. (NYSE:ASAN) by 4.1% in the fourth quarter, HoldingsChannel reports. The firm owned 331,505 shares of the company’s stock after selling 14,067 shares during the period. Asana accounts for 1.0% of Stanley Laman Group Ltd.’s holdings, making the stock its 29th biggest position. Stanley Laman Group Ltd.’s holdings in Asana were worth $6,302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ASAN. DekaBank Deutsche Girozentrale purchased a new position in Asana during the 3rd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of Asana by 1,015.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company’s stock worth $46,000 after buying an additional 2,294 shares during the period. CWM LLC boosted its position in shares of Asana by 25.5% in the third quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after buying an additional 563 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Asana during the third quarter valued at $184,000. Finally, International Assets Investment Management LLC acquired a new position in Asana during the fourth quarter valued at $199,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Insider Transactions at Asana

In other Asana news, insider Eleanor B. Lacey sold 5,387 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.46, for a total value of $83,283.02. Following the completion of the transaction, the insider now owns 225,201 shares of the company’s stock, valued at approximately $3,481,607.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Asana news, insider Eleanor B. Lacey sold 5,387 shares of Asana stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.46, for a total transaction of $83,283.02. Following the sale, the insider now owns 225,201 shares in the company, valued at $3,481,607.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anne Raimondi sold 11,779 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total transaction of $181,161.02. Following the completion of the transaction, the chief operating officer now owns 492,230 shares of the company’s stock, valued at approximately $7,570,497.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,733 shares of company stock worth $488,886. 63.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ASAN. KeyCorp initiated coverage on shares of Asana in a research report on Thursday, March 21st. They set an “underweight” rating and a $14.00 price objective on the stock. Bank of America started coverage on shares of Asana in a research note on Monday, February 26th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Piper Sandler boosted their target price on Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.67.

Asana Stock Performance

Shares of Asana stock traded down $0.35 during trading on Thursday, reaching $14.63. The company’s stock had a trading volume of 1,253,897 shares, compared to its average volume of 1,975,979. The business’s fifty day moving average price is $16.32 and its 200-day moving average price is $18.19. Asana, Inc. has a one year low of $13.34 and a one year high of $26.27. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -12.50 and a beta of 1.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 1.80.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.06. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. The company had revenue of $171.14 million during the quarter, compared to analysts’ expectations of $167.59 million. As a group, equities research analysts predict that Asana, Inc. will post -1.08 earnings per share for the current year.

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.