DGS Capital Management LLC Purchases Shares of 77,325 Asana, Inc. (NYSE:ASAN)

DGS Capital Management LLC acquired a new position in Asana, Inc. (NYSE:ASAN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 77,325 shares of the company’s stock, valued at approximately $1,470,000. Asana accounts for approximately 0.6% of DGS Capital Management LLC’s investment portfolio, making the stock its 26th largest position.

Several other large investors have also made changes to their positions in ASAN. DekaBank Deutsche Girozentrale acquired a new position in shares of Asana during the third quarter valued at about $27,000. Lazard Asset Management LLC grew its holdings in shares of Asana by 117.7% during the 3rd quarter. Lazard Asset Management LLC now owns 1,463 shares of the company’s stock worth $26,000 after purchasing an additional 791 shares in the last quarter. FMR LLC increased its position in shares of Asana by 120.4% during the second quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after purchasing an additional 862 shares during the period. Allspring Global Investments Holdings LLC raised its stake 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 valued at $46,000 after purchasing an additional 2,294 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Asana by 47.0% in the first quarter. Advisors Asset Management Inc. now owns 2,715 shares of the company’s stock worth $109,000 after purchasing an additional 868 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Price Performance

Shares of ASAN traded down $0.28 on Tuesday, hitting $13.58. The company’s stock had a trading volume of 698,618 shares, compared to its average volume of 1,972,441. The company has a market capitalization of $3.05 billion, a PE ratio of -11.66 and a beta of 1.23. Asana, Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $26.27. The company has a 50 day moving average price of $17.10 and a 200 day moving average price of $18.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.80 and a quick ratio of 1.80.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $167.59 million. On average, research analysts anticipate that Asana, Inc. will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asana news, insider Eleanor B. Lacey sold 4,462 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $15.47, for a total value of $69,027.14. Following the completion of the transaction, the insider now directly owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Eleanor B. Lacey sold 5,387 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.46, for a total transaction of $83,283.02. Following the transaction, the insider now owns 225,201 shares of the company’s stock, valued at $3,481,607.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eleanor B. Lacey sold 4,462 shares of Asana stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $15.47, for a total value of $69,027.14. Following the completion of the sale, the insider now owns 220,739 shares of the company’s stock, valued at $3,414,832.33. 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 in the last 90 days. 63.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.