Entropy Technologies LP Purchases New Holdings in Asana, Inc. $ASAN

Entropy Technologies LP purchased a new position in shares of Asana, Inc. (NYSE:ASAN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 90,344 shares of the company’s stock, valued at approximately $578,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ASAN. Jupiter Asset Management Ltd. increased its position in shares of Asana by 705.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after purchasing an additional 1,204,232 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Asana by 250.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 532,796 shares of the company’s stock worth $3,410,000 after buying an additional 380,741 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Asana in the 1st quarter worth about $591,000. Arrowstreet Capital Limited Partnership grew its position in Asana by 37.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock valued at $45,979,000 after buying an additional 1,969,657 shares during the period. Finally, Jennison Associates LLC bought a new position in Asana during the first quarter valued at about $783,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Insider Buying and Selling at Asana

In other news, insider Katie Marie Colendich sold 5,242 shares of Asana stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.68, for a total value of $35,016.56. Following the completion of the transaction, the insider directly owned 176,598 shares in the company, valued at approximately $1,179,674.64. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aziz Megji sold 13,239 shares of Asana stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $6.73, for a total value of $89,098.47. Following the completion of the transaction, the chief financial officer owned 765,389 shares of the company’s stock, valued at approximately $5,151,067.97. This trade represents a 1.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 118,304 shares of company stock worth $792,775. 61.28% of the stock is owned by insiders.

Asana Stock Up 3.9%

ASAN opened at $8.51 on Thursday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -12.33 and a beta of 0.97. The firm has a 50-day moving average price of $7.32 and a 200-day moving average price of $7.52. Asana, Inc. has a twelve month low of $5.38 and a twelve month high of $15.71.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $205.09 million for the quarter, compared to analysts’ expectations of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. Asana’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, sell-side analysts expect that Asana, Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ASAN. Royal Bank Of Canada raised their price objective on shares of Asana from $7.00 to $8.00 and gave the stock a “sector perform” rating in a report on Friday, May 29th. Zacks Research raised shares of Asana from a “hold” rating to a “strong-buy” rating in a research report on Monday. UBS Group restated a “neutral” rating and set a $8.00 price target on shares of Asana in a research note on Friday, May 29th. Morgan Stanley decreased their price target on shares of Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday, May 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Asana in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.27.

About Asana

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.