Carillon Tower: “Asana (ASAN) is One of the Best Collaboration Software Companies”

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Small Cap Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Small-cap stocks overall posted rather lackluster returns in the first quarter of 2022. There was, however, a notable level of disparity between the two style indexes, as the Russell 2000® Growth Index (down 12.63%) significantly lagged its Russell 2000® Value Index (down 2.40%) counterpart for the sixth consecutive quarter.  Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Carillon Eagle Small Cap Growth Fund mentioned Asana, Inc. (NYSE:ASAN) and explained its insights for the company. Founded in 2008, Asana, Inc. (NYSE:ASAN) is a San Francisco, California-based web and mobile work management platform with a $3.5 billion market capitalization. Asana, Inc. (NYSE:ASAN) delivered a -74.77% return since the beginning of the year, while its 12-month returns are down by -69.68%. The stock closed at $18.81 per share on June 29, 2022.

Here is what Carillon Eagle Small Cap Growth Fund has to say about Asana, Inc. (NYSE:ASAN) in its Q1 2022 investor letter:

Asana (NYSE:ASAN) is a work management software platform that helps teams collaborate and orchestrate work from daily tasks to cross-functional strategic initiatives. Despite strong revenue growth, investors were disappointed at the lack of profitability in management’s guidance for 2022. We believe Asana is one of the best collaboration software companies, and given the massive addressable market, we are willing to look through the spending in the near term for the mid- to long-term gains in users and customers.”


Our calculations show that Asana, Inc. (NYSE:ASAN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Asana, Inc. (NYSE:ASAN) was in 23 hedge fund portfolios at the end of the first quarter of 2022, compared to 31 funds in the previous quarter. Asana, Inc. (NYSE:ASAN) delivered a -54.88% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on Asana, Inc. (NYSE:ASAN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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