Northern Trust Corp Sells 80,937 Shares of Asana, Inc. $ASAN

Key Points

• Northern Trust Corp reduced its holdings in Asana, Inc. by 10% during the first quarter, owning 730,379 shares valued at approximately $10.64 million after selling 80,937 shares.
• Asana's stock recently rose by 3.2%, with a current price of $14.68, while the company reported a negative EPS of ($0.20) for the last quarter, missing analyst expectations.
• Insider buying activity saw Director Dustin A. Moskovitz purchasing 122,470 shares for about $1.66 million, increasing his stake to approximately $782.79 million and indicating significant confidence in the company.

Northern Trust Corp trimmed its position in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 730,379 shares of the company's stock after selling 80,937 shares during the period. Northern Trust Corp owned about 0.31% of Asana worth $10,642,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ASAN. Algert Global LLC raised its holdings in shares of Asana by 199.4% during the 4th quarter. Algert Global LLC now owns 107,441 shares of the company's stock valued at $2,178,000 after buying an additional 71,551 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Asana during the 4th quarter valued at about $352,000. BNP Paribas Financial Markets purchased a new position in shares of Asana during the 4th quarter valued at about $653,000. Balyasny Asset Management L.P. purchased a new position in shares of Asana during the 4th quarter valued at about $458,000. Finally, Deutsche Bank AG raised its holdings in shares of Asana by 30.4% during the 4th quarter. Deutsche Bank AG now owns 184,843 shares of the company's stock valued at $3,747,000 after buying an additional 43,053 shares in the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Trading Down 4.4%

Shares of ASAN stock traded down $0.61 during trading hours on Wednesday, reaching $13.30. The company's stock had a trading volume of 3,759,502 shares, compared to its average volume of 4,296,296. The stock has a market capitalization of $3.13 billion, a P/E 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 firm's fifty day simple moving average is $14.24 and its 200 day simple moving average is $15.21. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.25). The business 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%.Asana's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business 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. Equities research analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Insider Buying and Selling at Asana

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ASAN shares. KeyCorp reissued a "sector weight" rating on shares of Asana in a report on Wednesday, June 4th. HSBC restated a "reduce" rating and set a $10.00 price target (down from $13.00) on shares of Asana in a research report on Wednesday, June 4th. FBN Securities upgraded Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. Piper Sandler restated an "overweight" rating and set a $19.00 price target on shares of Asana in a research report on Thursday, September 4th. Finally, Jefferies Financial Group raised their price target on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. One 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 issued a Sell rating to the company. According to MarketBeat.com, Asana currently has a consensus rating of "Hold" and an average target price of $16.10.

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.