Hsbc Holdings PLC Sells 118,475 Shares of Asana, Inc. $ASAN

Key Points

• Hsbc Holdings PLC significantly reduced its stake in Asana, Inc. by 86.8% in Q1, now owning 17,972 shares valued at $259,000.
• In contrast, Algert Global LLC increased its stake by a remarkable 296.4%, owning 425,925 shares worth $6,206,000 after its acquisition.
• Despite varying analyst ratings, Asana currently has a consensus rating of "Hold" with an average price target of $16.10.

Hsbc Holdings PLC decreased its position in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 86.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,972 shares of the company's stock after selling 118,475 shares during the period. Hsbc Holdings PLC's holdings in Asana were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Algert Global LLC grew its position in shares of Asana by 296.4% during the first quarter. Algert Global LLC now owns 425,925 shares of the company's stock valued at $6,206,000 after purchasing an additional 318,484 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Asana by 146.6% during the first quarter. Russell Investments Group Ltd. now owns 117,982 shares of the company's stock valued at $1,727,000 after purchasing an additional 70,145 shares in the last quarter. Nuveen LLC purchased a new position in shares of Asana during the first quarter valued at about $8,419,000. Deutsche Bank AG grew its position in shares of Asana by 2.6% during the first quarter. Deutsche Bank AG now owns 189,698 shares of the company's stock valued at $2,764,000 after purchasing an additional 4,855 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Asana by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company's stock worth $10,815,000 after acquiring an additional 47,480 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Trading Down 4.4%

NYSE ASAN traded down $0.61 during trading on Wednesday, hitting $13.30. The stock had a trading volume of 3,759,502 shares, compared to its average volume of 4,296,296. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -14.94 and a beta of 1.14. Asana, Inc. has a one year low of $11.08 and a one year high of $27.77. The stock has a 50 day simple moving average of $14.24 and a 200 day simple moving average of $15.21.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.25). The firm had revenue of $196.94 million during the quarter, compared to the consensus estimate of $193.01 million. Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The firm's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) EPS. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. Sell-side analysts predict that Asana, Inc. will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Asana

In related news, Director Dustin A. Moskovitz purchased 122,470 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was purchased at an average price of $13.52 per share, with a total value of $1,655,794.40. Following the completion of the purchase, the director owned 57,898,436 shares of the company's stock, valued at approximately $782,786,854.72. The trade was a 0.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 5,375,000 shares of company stock worth $75,920,894 and have sold 3,033,130 shares worth $45,552,218. Corporate insiders own 61.28% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler reiterated an "overweight" rating and issued a $19.00 price target on shares of Asana in a research report on Thursday, September 4th. Bank of America dropped their price target on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. KeyCorp reiterated a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. lifted their price target on Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned 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, the stock currently has an average rating of "Hold" and an average price target of $16.10.

About Asana

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.