Carillon Tower Advisers: “We are Quite Positive About Asana (ASAN)’s Prospects”

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Small Cap Growth Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. Small-cap stocks overall posted minor gains in the final quarter of 2021. In what has become a common theme, the Russell 2000® Growth Index (up 0.02%) trailed its Russell 2000® Value Index (up 4.36%) counterpart for the fifth consecutive quarter. Sector returns across the Russell 2000 Growth Index were mostly positive, with the defensively oriented utilities (up 14.18%) and real estate (up 13.94%) sectors leading the way. Industrials (up 9.73%), financials (up 9.05%), and consumer staples (up 5.67%) also provided returns that outpaced the benchmark. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Carillon Eagle Small Cap Growth Fund, in its Q4 2021 investor letter, mentioned Asana, Inc. (NYSE: ASAN) and discussed its stance on the firm. Asana, Inc. is a San Francisco, California-based web and mobile work management platform with a $12.0 billion market capitalization. ASAN delivered a -13.32% return since the beginning of the year, while its 12-month returns are up by 55.75%. The stock closed at $64.62 per share on February 11, 2022.

Here is what Carillon Eagle Small Cap Growth Fund has to say about Asana, Inc. in its Q4 2021 investor letter:

“Asana is a work management software platform that helps teams collaborate and orchestrate work. Despite a stellar earnings report, the shares pulled back as the company failed to exceed consensus estimates by the same magnitude it had in the prior two quarters. The firm’s growth remains quite healthy, and with the CEO continuing to personally purchase substantial amounts of the firm’s stock in the open market, we are quite positive about Asana’s prospects.”

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Our calculations show that Asana, Inc. (NYSE: ASAN) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. ASAN was in 33 hedge fund portfolios at the end of the third quarter of 2021, compared to 22 funds in the previous quarter. Asana, Inc. (NYSE: ASAN) delivered a -54.38% return in the past 3 months.

In November 2021, we also shared another hedge fund’s views on ASAN in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.