Mutual of America Capital Management LLC Trims Stake in Asana, Inc. (NYSE:ASAN)

Mutual of America Capital Management LLC trimmed its position in shares of Asana, Inc. (NYSE:ASAN) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,056 shares of the company’s stock after selling 3,039 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Asana were worth $1,275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Asana by 4.9% in the third quarter. Vanguard Group Inc. now owns 9,213,830 shares of the company’s stock valued at $168,705,000 after purchasing an additional 434,003 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Asana by 252.9% in the third quarter. Canada Pension Plan Investment Board now owns 232,200 shares of the company’s stock valued at $4,252,000 after acquiring an additional 166,400 shares in the last quarter. Neo Ivy Capital Management boosted its stake in shares of Asana by 8,952.1% in the third quarter. Neo Ivy Capital Management now owns 97,220 shares of the company’s stock worth $1,780,000 after acquiring an additional 96,146 shares during the last quarter. Trexquant Investment LP increased its position in shares of Asana by 83.7% during the third quarter. Trexquant Investment LP now owns 202,709 shares of the company’s stock worth $3,712,000 after purchasing an additional 92,387 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Asana by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,713 shares of the company’s stock valued at $11,951,000 after purchasing an additional 61,141 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Performance

NYSE ASAN opened at $13.90 on Tuesday. The stock has a fifty day simple moving average of $16.58 and a 200-day simple moving average of $18.26. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.12 billion, a PE ratio of -11.88 and a beta of 1.23. Asana, Inc. has a twelve month low of $13.34 and a twelve month high of $26.27.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Asana

In other news, COO Anne Raimondi sold 11,779 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was 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 directly owns 492,230 shares in the company, valued at $7,570,497.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Eleanor B. Lacey sold 4,462 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the sale, the insider now owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 11,779 shares of Asana stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total value 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 $7,570,497.40. The disclosure for this sale can be found here. Insiders have sold a total of 31,733 shares of company stock valued at $488,886 over the last quarter. 63.26% of the stock is owned by company insiders.

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.