Asana, Inc. (NYSE:ASAN) Shares Acquired by Mirae Asset Global Investments Co. Ltd. (2024)

Posted by Defense World Staff on Jan 27th, 2024

Mirae Asset Global Investments Co. Ltd. increased its position in Asana, Inc. (NYSE:ASAN – Free Report) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,435 shares of the company’s stock after buying an additional 3,068 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Asana were worth $649,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. FMR LLC lifted its holdings 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 last quarter. Advisors Asset Management Inc. lifted its stake in Asana by 47.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,715 shares of the company’s stock worth $109,000 after acquiring an additional 868 shares in the last quarter. CWM LLC lifted its stake in Asana by 25.5% in the 3rd quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after acquiring an additional 563 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Asana by 765.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,829 shares of the company’s stock worth $39,000 after acquiring an additional 2,502 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Asana by 1,370.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,073 shares of the company’s stock worth $68,000 after acquiring an additional 2,864 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ASAN. Citigroup reduced their price objective on Asana from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 4th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a research report on Wednesday, October 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Asana in a research report on Wednesday, December 6th. FBN Securities dropped their target price on Asana from $28.00 to $23.00 in a research report on Tuesday, October 3rd. Finally, Morgan Stanley dropped their target price on Asana from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.00.

Read Our Latest Research Report on Asana

Insider Transactions at Asana

In other news, CFO Tim M. Wan sold 5,000 shares of Asana stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $19.05, for a total transaction of $95,250.00. Following the sale, the chief financial officer now owns 763,993 shares of the company’s stock, valued at approximately $14,554,066.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Asana news, CFO Tim M. Wan sold 5,000 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $19.05, for a total value of $95,250.00. Following the transaction, the chief financial officer now owns 763,993 shares of the company’s stock, valued at $14,554,066.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eleanor B. Lacey sold 6,895 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $19.35, for a total value of $133,418.25. Following the completion of the transaction, the insider now directly owns 229,621 shares in the company, valued at approximately $4,443,166.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,940 shares of company stock valued at $557,807. 63.26% of the stock is owned by corporate insiders.

Asana Stock Performance

ASAN opened at $18.39 on Friday. The firm has a market capitalization of $4.09 billion, a P/E ratio of -13.83 and a beta of 1.25. The stock’s 50 day moving average price is $19.46 and its two-hundred day moving average price is $19.87. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.14. Asana, Inc. has a 12-month low of $14.30 and a 12-month high of $26.27.

Asana (NYSE:ASAN – Get Free Report) last announced its quarterly earnings data on Tuesday, December 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.07. Asana had a negative return on equity of 80.39% and a negative net margin of 45.86%. The company had revenue of $166.50 million for the quarter, compared to analyst estimates of $164.09 million. During the same quarter last year, the firm earned ($0.49) EPS. Asana’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities analysts forecast that Asana, Inc. will post -1.2 earnings per share for the current year.

Asana Company Profile

(Free Report)

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; and manages product launches, marketing campaigns, and organization-wide goal settings.

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I'm an investment enthusiast with a profound understanding of financial markets and a keen eye for analyzing company performance and market trends. My expertise extends to deciphering intricate financial reports, tracking institutional investments, and evaluating stock ratings. I keep abreast of the latest news and reports to provide well-informed insights into investment opportunities.

Now, delving into the provided article about Mirae Asset Global Investments Co. Ltd. increasing its position in Asana, Inc. (NYSE: ASAN), there are several key concepts and components discussed:

Ownership Increase by Mirae Asset Global Investments:
- The article mentions that Mirae Asset Global Investments Co. Ltd. increased its position in Asana by 9.5% during the 3rd quarter.
- The firm now owns 35,435 shares of Asana, valued at $649,000 at the end of the reporting period.
Other Institutional Investors' Modifications:
- FMR LLC increased its holdings by 120.4% during the second quarter.
- Advisors Asset Management Inc. and CWM LLC also modified their holdings in the 1st and 3rd quarters, respectively.
- PNC Financial Services Group Inc. and Russell Investments Group Ltd. made significant changes in their holdings during the 4th quarter and 2nd quarter, respectively.
Wall Street Analyst Ratings:
- Various brokerages issued reports on ASAN, with Citigroup reducing the price target and setting a "neutral" rating.
- Royal Bank of Canada reaffirmed an "underperform" rating, while Oppenheimer reaffirmed an "outperform" rating with a target price.
- The article provides insights into price target adjustments from multiple analysts.
Insider Transactions:
- CFO Tim M. Wan and insider Eleanor B. Lacey conducted stock sales, providing details on the number of shares sold, average prices, and total transaction values.
- The disclosure of insider transactions is emphasized, and the percentage of stock owned by corporate insiders is mentioned (63.26%).
Asana Stock Performance:
- ASAN opened at $18.39 with a market capitalization of $4.09 billion.
- Various financial indicators, such as the P/E ratio (-13.83), beta (1.25), and moving averages, are highlighted.
- Asana's 12-month low and high stock prices are provided.
Financial Performance and Earnings:
- The article includes details about Asana's quarterly earnings, beating the consensus estimate and reporting a positive earnings per share ($0.07).
- Key financial metrics such as return on equity, net margin, and revenue for the quarter are discussed.
Company Profile:
- A brief overview of Asana, Inc.'s operations as a work management platform is provided, emphasizing its role in helping organizations manage various tasks and initiatives.

This comprehensive analysis showcases a holistic understanding of Asana, Inc.'s recent developments, financial performance, and market sentiment based on institutional and analyst activities.