5 Meme Stocks that More than Doubled in 2021

3. Asana, Inc. (NYSE:ASAN)

Number of Hedge Fund Holders: 33    

Year-To-Date Gain: 258%  

Asana, Inc. (NYSE:ASAN) owns and runs a work management platform. The firm beat market estimates on earnings per share and revenue for the second fiscal quarter by $0.03 and $7 million respectively. 

Jefferies analyst Brent Thill recently downgraded Asana, Inc. (NYSE:ASAN) stock to Hold from Buy but raised the price target to $135 from $115, citing valuation as one of the primary reasons behind the downgrade. 

At the end of the third quarter of 2021, 33 hedge funds in the database of Insider Monkey held stakes worth $1 billion in Asana, Inc. (NYSE:ASAN), down from 22 the preceding quarter worth $592 million.