122,356 Shares in Asana, Inc. $ASAN Purchased by Jennison Associates LLC

Jennison Associates LLC purchased a new stake in shares of Asana, Inc. (NYSE:ASAN) during the 1st quarter, Holdings Channel.com reports. The fund purchased 122,356 shares of the company’s stock, valued at approximately $783,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its stake in Asana by 705.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after purchasing an additional 1,204,232 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Asana by 53.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after buying an additional 977,107 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Asana by 35.1% in the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock worth $36,375,000 after buying an additional 689,546 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Asana by 12.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,214,591 shares of the company’s stock worth $71,492,000 after buying an additional 565,681 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Asana by 94.7% during the 4th quarter. Federated Hermes Inc. now owns 804,743 shares of the company’s stock worth $11,033,000 after acquiring an additional 391,412 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Asana

In related news, insider Katie Marie Colendich sold 8,337 shares of Asana stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $6.74, for a total value of $56,191.38. Following the completion of the sale, the insider directly owned 181,840 shares in the company, valued at $1,225,601.60. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aziz Megji sold 31,696 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $211,095.36. Following the completion of the sale, the chief financial officer directly owned 778,628 shares of the company’s stock, valued at approximately $5,185,662.48. This trade represents a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 118,304 shares of company stock worth $792,775 over the last quarter. 61.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ASAN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a report on Friday, May 8th. Morgan Stanley decreased their target price on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 29th. Piper Sandler reissued a “neutral” rating and set a $7.00 target price (down from $9.00) on shares of Asana in a research note on Tuesday, April 14th. KeyCorp cut their price target on shares of Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Asana in a research note on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.27.

Asana Stock Performance

Shares of NYSE ASAN opened at $6.89 on Thursday. Asana, Inc. has a 52-week low of $5.38 and a 52-week high of $15.71. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -9.98 and a beta of 0.97. The stock has a 50 day moving average price of $7.20 and a 200 day moving average price of $7.72.

Asana (NYSE:ASAN) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $205.09 million for the quarter, compared to the consensus estimate of $203.58 million. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.Asana’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business 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. Analysts forecast that Asana, Inc. will post -0.4 earnings per share for the current year.

Asana Profile

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.