HBK Sorce Advisory LLC Raises Position in Asana, Inc. (NYSE:ASAN)

Posted by Defense World Staff on May 20th, 2023

HBK Sorce Advisory LLC grew its position in shares of Asana, Inc. (NYSE:ASAN – Get Rating) by 100.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 30,000 shares of the company’s stock after acquiring an additional 15,000 shares during the period. HBK Sorce Advisory LLC’s holdings in Asana were worth $34,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ASAN. FMR LLC increased its stake 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 in the last quarter. Advisors Asset Management Inc. raised its stake in Asana by 47.0% during the first quarter. Advisors Asset Management Inc. now owns 2,715 shares of the company’s stock valued at $109,000 after buying an additional 868 shares during the last quarter. Lazard Asset Management LLC raised its stake in Asana by 12,625.0% during the third quarter. Lazard Asset Management LLC now owns 4,072 shares of the company’s stock valued at $90,000 after buying an additional 4,040 shares during the last quarter. Cibc World Market Inc. bought a new stake in Asana in the first quarter worth $231,000. Finally, Point72 Hong Kong Ltd grew its stake in shares of Asana by 29,355.0% in the first quarter. Point72 Hong Kong Ltd now owns 5,891 shares of the company’s stock worth $235,000 after acquiring an additional 5,871 shares during the last quarter. Institutional investors own 28.22% of the company’s stock.

Insider Activity

In related news, insider Eleanor B. Lacey sold 1,321 shares of the company’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $20.86, for a total value of $27,556.06. Following the completion of the transaction, the insider now owns 165,300 shares of the company’s stock, valued at approximately $3,448,158. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Eleanor B. Lacey sold 1,321 shares of the business’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $20.86, for a total value of $27,556.06. Following the transaction, the insider now directly owns 165,300 shares of the company’s stock, valued at approximately $3,448,158. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Tim M. Wan sold 20,000 shares of the stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $21.31, for a total transaction of $426,200.00. Following the sale, the chief financial officer now directly owns 607,051 shares of the company’s stock, valued at $12,936,256.81. The disclosure for this sale can be found here. Insiders have sold 25,346 shares of company stock worth $538,214 in the last three months. Company insiders own 61.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ASAN shares. Oppenheimer upped their price target on shares of Asana from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, March 9th. Robert W. Baird increased their target price on Asana from $15.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, March 9th. Credit Suisse Group restated a “neutral” rating and issued a $18.00 price target on shares of Asana in a research note on Monday, March 13th. Piper Jaffray Companies increased their price objective on Asana from $13.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, March 9th. Finally, Piper Sandler boosted their target price on Asana from $13.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, March 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.84.

Asana Trading Down 0.2 %

NYSE:ASAN opened at $19.94 on Friday. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -9.77 and a beta of 1.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.99 and a quick ratio of 1.99. The business has a fifty day moving average price of $18.85 and a 200-day moving average price of $16.83. Asana, Inc. has a one year low of $11.32 and a one year high of $29.51.

Asana (NYSE:ASAN – Get Rating) last posted its quarterly earnings data on Wednesday, March 8th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.07. The firm had revenue of $150.23 million for the quarter, compared to the consensus estimate of $145.13 million. Asana had a negative return on equity of 159.46% and a negative net margin of 74.52%. Sell-side analysts forecast that Asana, Inc. will post -1.48 EPS for the current year.

About Asana

(Get Rating)

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.

HBK Sorce Advisory LLC Raises Position in Asana, Inc. (NYSE:ASAN)

Insider Activity

Wall Street Analysts Forecast Growth

Asana Trading Down 0.2 %

About Asana

Recommended Stories

You might be interested in: