Russell Investments Group Ltd. Raises Stake in Asana, Inc. $ASAN

Key Points

• Russell Investments Group Ltd. increased its stake in Asana, Inc. by 146.6% during the first quarter, holding around 0.05% of the company, valued at approximately $1.7 million.
• Asana's CEO, Dustin A. Moskovitz, purchased 225,000 shares worth over $3 million, while director Justin Rosenstein sold 966,576 shares for approximately $14.5 million.
• The company reported a quarterly earnings per share (EPS) of $0.05, beating expectations, with a revenue increase of 8.6% year-over-year.

Russell Investments Group Ltd. grew its position in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 146.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,982 shares of the company's stock after acquiring an additional 70,145 shares during the quarter. Russell Investments Group Ltd. owned about 0.05% of Asana worth $1,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ASAN. Wells Fargo & Company MN increased its holdings in shares of Asana by 35.5% during the fourth quarter. Wells Fargo & Company MN now owns 52,962 shares of the company's stock valued at $1,074,000 after acquiring an additional 13,889 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Asana during the fourth quarter valued at approximately $1,352,000. Marshall Wace LLP bought a new stake in shares of Asana during the fourth quarter valued at approximately $1,713,000. MetLife Investment Management LLC increased its holdings in shares of Asana by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 49,483 shares of the company's stock valued at $1,003,000 after acquiring an additional 2,668 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Asana during the fourth quarter worth $135,000. Institutional investors own 26.21% of the company's stock.

Insiders Place Their Bets

In other news, CEO Dustin A. Moskovitz purchased 225,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were purchased at an average price of $13.58 per share, with a total value of $3,055,500.00. Following the transaction, the chief executive officer directly owned 51,711,191 shares of the company's stock, valued at approximately $702,237,973.78. This represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 966,576 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total value of $14,537,303.04. Following the transaction, the director directly owned 4,797,091 shares in the company, valued at $72,148,248.64. This represents a 16.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 5,375,000 shares of company stock worth $75,920,894 and have sold 3,033,130 shares worth $45,552,218. 61.28% of the stock is owned by corporate insiders.

Asana Stock Performance

NYSE:ASAN traded up $0.06 during trading on Friday, reaching $14.62. The company's stock had a trading volume of 3,419,585 shares, compared to its average volume of 3,420,444. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -14.62 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a 50 day moving average of $14.13 and a 200-day moving average of $15.65. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%.The firm had revenue of $187.63 million during the quarter, compared to the consensus estimate of $185.40 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Asana has set its FY 2026 guidance at 0.220-0.220 EPS. Q2 2026 guidance at 0.040-0.050 EPS. Research analysts expect that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ASAN has been the subject of several recent research reports. FBN Securities upgraded Asana to a "strong-buy" rating in a report on Wednesday, June 4th. JMP Securities reiterated a "market outperform" rating and set a $22.00 price target on shares of Asana in a report on Wednesday, June 4th. UBS Group upped their price target on Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Robert W. Baird upped their price target on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Bank of America decreased their price target on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, Asana presently has a consensus rating of "Hold" and an average target price of $15.97.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.