Jacobs Levy Equity Management Inc. Boosts Holdings in Asana, Inc. $ASAN

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 117.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 623,994 shares of the company's stock after acquiring an additional 336,641 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.27% of Asana worth $9,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EFG Asset Management North America Corp. bought a new stake in shares of Asana during the first quarter worth about $1,886,000. AQR Capital Management LLC increased its position in shares of Asana by 186.0% during the first quarter. AQR Capital Management LLC now owns 512,280 shares of the company's stock worth $7,367,000 after acquiring an additional 333,165 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Asana during the first quarter worth about $3,254,000. Retirement Planning Co of New England Inc. increased its position in shares of Asana by 12.7% during the first quarter. Retirement Planning Co of New England Inc. now owns 16,512 shares of the company's stock worth $241,000 after acquiring an additional 1,855 shares in the last quarter. Finally, Quarry LP increased its position in shares of Asana by 104.8% during the first quarter. Quarry LP now owns 2,906 shares of the company's stock worth $42,000 after acquiring an additional 1,487 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Insider Transactions at Asana

In other news, Director Dustin A. Moskovitz bought 122,470 shares of the stock in a transaction on Thursday, August 21st. The shares were acquired at an average cost of $13.52 per share, for a total transaction of $1,655,794.40. Following the purchase, the director directly owned 57,898,436 shares of the company's stock, valued at $782,786,854.72. This trade represents a 0.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 5,375,000 shares of company stock valued at $75,920,894 and have sold 3,033,130 shares valued at $45,552,218. 61.28% of the stock is owned by corporate insiders.

Asana Stock Performance

ASAN traded up $0.53 during midday trading on Thursday, reaching $13.81. The company had a trading volume of 4,111,953 shares, compared to its average volume of 3,574,745. 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 cap of $3.25 billion, a PE ratio of -15.52 and a beta of 1.14. Asana, Inc. has a 12-month low of $11.08 and a 12-month high of $27.77. The business has a 50-day moving average price of $14.24 and a two-hundred day moving average price of $15.21.

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

Analyst Ratings Changes

Several research firms have recently commented on ASAN. Piper Sandler reissued an "overweight" rating and set a $19.00 target price on shares of Asana in a research report on Thursday, September 4th. Scotiabank upped their price objective on shares of Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 4th. FBN Securities raised shares of Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. Finally, Jefferies Financial Group upped their price objective on shares of Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Asana currently has an average rating of "Hold" and a consensus target price of $16.10.

Asana 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.