Atomi Financial Group Inc. Boosts Holdings in Asana, Inc. (NYSE:ASAN)

Atomi Financial Group Inc. increased its holdings in Asana, Inc. (NYSE:ASAN) by 45.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,137 shares of the company’s stock after purchasing an additional 7,884 shares during the period. Atomi Financial Group Inc.’s holdings in Asana were worth $389,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. increased its position in shares of Asana by 26.2% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after purchasing an additional 669 shares during the last quarter. Headlands Technologies LLC bought a new position in Asana in the 4th quarter valued at $147,000. Retirement Planning Co of New England Inc. bought a new position in Asana in the 1st quarter valued at $164,000. Principal Financial Group Inc. bought a new position in Asana in the 1st quarter valued at $173,000. Finally, Victory Capital Management Inc. bought a new position in Asana in the 4th quarter valued at $197,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. UBS Group cut their price objective on Asana from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Oppenheimer dropped their price target on Asana from $28.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. HSBC raised Asana from a “reduce” rating to a “hold” rating and dropped their price target for the stock from $16.00 to $14.00 in a research report on Monday, June 3rd. JMP Securities reissued a “market outperform” rating and set a $27.00 price target on shares of Asana in a research report on Monday. Finally, KeyCorp dropped their price target on Asana from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.17.

Insider Buying and Selling

In other Asana news, insider Eleanor B. Lacey sold 4,999 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $12.95, for a total value of $64,737.05. Following the sale, the insider now directly owns 384,150 shares of the company’s stock, valued at $4,974,742.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Asana news, COO Anne Raimondi sold 26,588 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total value of $304,166.72. Following the sale, the chief operating officer now directly owns 790,894 shares of the company’s stock, valued at $9,047,827.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eleanor B. Lacey sold 4,999 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $12.95, for a total value of $64,737.05. Following the completion of the transaction, the insider now owns 384,150 shares in the company, valued at approximately $4,974,742.50. The disclosure for this sale can be found here. Insiders have sold a total of 89,443 shares of company stock valued at $1,101,976 over the last ninety days. Company insiders own 63.97% of the company’s stock.

Asana Stock Performance

Shares of ASAN stock traded up $0.19 during mid-day trading on Monday, reaching $13.77. The stock had a trading volume of 793,646 shares, compared to its average volume of 2,073,432. The business’s fifty day moving average is $13.83 and its 200-day moving average is $15.93. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -11.74 and a beta of 1.16. Asana, Inc. has a 1-year low of $11.29 and a 1-year high of $24.81.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. The firm had revenue of $172.45 million for the quarter, compared to analyst estimates of $168.53 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. On average, research analysts forecast that Asana, Inc. will post -1.04 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.