75,000 Shares in Asana, Inc. (NYSE:ASAN) Bought by Potrero Capital Research LLC

Potrero Capital Research LLC purchased a new stake in Asana, Inc. (NYSE:ASAN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 75,000 shares of the company’s stock, valued at approximately $2,144,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Botty Investors LLC boosted its holdings in Asana by 26.8% in the first quarter. Botty Investors LLC now owns 2,406 shares of the company’s stock valued at $69,000 after acquiring an additional 508 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its holdings in Asana by 87.7% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 1,295 shares of the company’s stock valued at $38,000 after acquiring an additional 605 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Asana by 150.4% in the first quarter. Valeo Financial Advisors LLC now owns 1,217 shares of the company’s stock valued at $35,000 after acquiring an additional 731 shares in the last quarter. Allen Investment Management LLC boosted its holdings in Asana by 9.7% in the first quarter. Allen Investment Management LLC now owns 8,897 shares of the company’s stock valued at $254,000 after acquiring an additional 787 shares in the last quarter. Finally, tru Independence LLC bought a new stake in Asana in the fourth quarter valued at $29,550,000. Institutional investors and hedge funds own 26.49% of the company’s stock.

In other news, COO Chris Farinacci sold 26,072 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $32.49, for a total transaction of $847,079.28. Following the completion of the sale, the chief operating officer now owns 315,072 shares of the company’s stock, valued at approximately $10,236,689.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eleanor B. Lacey sold 20,000 shares of the company’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $40.07, for a total transaction of $801,400.00. Following the sale, the insider now directly owns 149,359 shares of the company’s stock, valued at approximately $5,984,815.13. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,940,000 shares of company stock valued at $101,122,600 and sold 91,672 shares valued at $4,143,279. 54.43% of the stock is currently owned by insiders.

Shares of ASAN traded up $4.19 during trading hours on Thursday, hitting $73.88. The company had a trading volume of 34,303 shares, compared to its average volume of 2,441,557. The company’s fifty day moving average is $50.83. The stock has a market capitalization of $12.09 billion and a PE ratio of -50.05. Asana, Inc. has a 52-week low of $20.57 and a 52-week high of $71.00.

Asana (NYSE:ASAN) last issued its earnings results on Wednesday, June 2nd. The company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.06. The business had revenue of $76.67 million during the quarter, compared to analysts’ expectations of $70.14 million. During the same period last year, the firm posted ($0.31) EPS. Asana’s quarterly revenue was up 60.7% compared to the same quarter last year. Research analysts predict that Asana, Inc. will post -1.46 EPS for the current fiscal year.

ASAN has been the topic of a number of research reports. JMP Securities boosted their target price on shares of Asana from $40.00 to $50.00 and gave the company a “market outperform” rating in a report on Friday, June 4th. They noted that the move was a valuation call. KeyCorp boosted their target price on shares of Asana from $48.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, July 15th. Robert W. Baird boosted their target price on shares of Asana from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, June 10th. Piper Sandler boosted their target price on shares of Asana from $45.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, June 4th. Finally, Royal Bank of Canada boosted their target price on shares of Asana from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, June 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $48.07.

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. It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.

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Institutional Ownership by Quarter for Asana (NYSE:ASAN)

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