Catalyst Private Wealth LLC Sells 1,600 Shares of Asana, Inc. (NYSE:ASAN)

Catalyst Private Wealth LLC decreased its position in Asana, Inc. (NYSE:ASAN) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,029 shares of the company’s stock after selling 1,600 shares during the quarter. Catalyst Private Wealth LLC’s holdings in Asana were worth $603,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ASAN. Susquehanna Fundamental Investments LLC bought a new position in Asana in the second quarter valued at $3,050,000. Point72 Asset Management L.P. acquired a new stake in shares of Asana in the second quarter valued at about $17,100,000. Marshall Wace LLP bought a new stake in Asana during the second quarter worth about $3,159,000. Bessemer Group Inc. boosted its position in Asana by 27.9% during the first quarter. Bessemer Group Inc. now owns 53,345 shares of the company’s stock valued at $827,000 after purchasing an additional 11,640 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Asana in the first quarter valued at approximately $173,000. 26.21% of the stock is currently owned by institutional investors.

Asana Price Performance

Shares of Asana stock traded up $0.43 during trading on Tuesday, reaching $13.00. The company’s stock had a trading volume of 261,514 shares, compared to its average volume of 1,993,147. The business’s 50-day moving average price is $12.16 and its 200-day moving average price is $13.31. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $23.44. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.31) earnings per share. On average, research analysts predict that Asana, Inc. will post -1.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America dropped their price objective on Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. JMP Securities cut their price target on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a research note on Wednesday, September 4th. Robert W. Baird decreased their price objective on shares of Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Oppenheimer dropped their target price on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Morgan Stanley reduced their price target on Asana from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Asana has a consensus rating of “Hold” and a consensus price target of $14.21.

Insider Buying and Selling

In related news, insider Eleanor B. Lacey sold 9,308 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 375,310 shares of the company’s stock, valued at $4,499,966.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $58,678.83. Following the transaction, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eleanor B. Lacey sold 9,308 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 value of $111,602.92. Following the sale, the insider now owns 375,310 shares of the company’s stock, valued at approximately $4,499,966.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have 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.