Asana, Inc. $ASAN Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Asana stake by 2,925.2% in the first quarter, acquiring 174,663 additional shares for a total holding of 180,634 shares worth approximately $1.16 million.
• Asana reported quarterly EPS of $0.10, beating the $0.08 consensus estimate, while revenue of $205.09 million exceeded forecasts and rose 9.5% year over year. The company remains unprofitable, with a negative net margin of 20.21%.
• Analysts maintain a consensus “Hold” rating with a $9.27 price target; recent insider activity was bearish, with insiders selling 118,304 shares worth about $792,775 over 90 days.

Royal Bank of Canada increased its stake in Asana, Inc. (NYSE:ASAN - Free Report) by 2,925.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,634 shares of the company's stock after buying an additional 174,663 shares during the period. Royal Bank of Canada owned about 0.08% of Asana worth $1,157,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Performa Ltd US LLC grew its holdings in Asana by 335.1% during the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company's stock worth $40,000 after acquiring an additional 4,775 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Asana in the 4th quarter valued at about $50,000. Summit Securities Group LLC acquired a new stake in shares of Asana in the 1st quarter valued at about $53,000. Daiwa Securities Group Inc. lifted its position in shares of Asana by 64.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock worth $59,000 after purchasing an additional 1,706 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Asana in the second quarter worth about $90,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Stock Down 1.0%

ASAN opened at $9.47 on Friday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -13.72 and a beta of 0.93. Asana, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $15.71. The company's 50-day moving average price is $7.81 and its 200 day moving average price is $7.26.

Asana (NYSE:ASAN - Get Free Report) last issued its 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 during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Research analysts anticipate that Asana, Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Veronica Sosa sold 11,378 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $75,777.48. Following the completion of the transaction, the chief accounting officer owned 62,344 shares in the company, valued at $415,211.04. The trade was a 15.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel Mark Rogers sold 13,790 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $6.89, for a total value of $95,013.10. Following the transaction, the chief executive officer owned 1,891,990 shares of the company's stock, valued at approximately $13,035,811.10. The trade was a 0.72% 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. In the last 90 days, insiders sold 118,304 shares of company stock worth $792,775. Company insiders own 87.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group reaffirmed a "neutral" rating and set a $8.00 target price on shares of Asana in a report on Friday, May 29th. Royal Bank Of Canada boosted their price target on Asana from $7.00 to $8.00 and gave the company a "sector perform" rating in a report on Friday, May 29th. DA Davidson reissued a "neutral" rating and set a $8.00 price target on shares of Asana in a research report on Friday, May 29th. KeyCorp reduced their price objective on Asana from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Finally, Morgan Stanley decreased their price objective on shares of Asana from $8.00 to $7.00 and set an "underweight" rating for the company in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.27.

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.

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