Trexquant Investment LP Lowers Holdings in Asana, Inc. $ASAN

Key Points

• Trexquant Investment LP significantly cut its holdings in Asana, Inc. by 71.5%, selling 401,640 shares in the first quarter, leaving it with only 160,323 shares valued at approximately $2.3 million.
• Several institutional investors increased their stakes in Asana, with GAMMA Investing LLC notably upping its position by 5,815.7%, now owning 9,820 shares worth $1.43 million.
• Asana's recent earnings report indicated a loss of ($0.20) EPS, missing expectations, despite a revenue increase of 9.9% compared to the previous year, amounting to $196.94 million.

Trexquant Investment LP decreased its position in Asana, Inc. (NYSE:ASAN - Free Report) by 71.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 160,323 shares of the company's stock after selling 401,640 shares during the period. Trexquant Investment LP owned about 0.07% of Asana worth $2,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Landscape Capital Management L.L.C. bought a new position in shares of Asana in the first quarter worth approximately $1,148,000. Ieq Capital LLC bought a new position in shares of Asana in the first quarter worth approximately $592,000. AlphaQuest LLC grew its holdings in shares of Asana by 825.1% in the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after purchasing an additional 2,203 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Asana in the first quarter worth approximately $648,000. Finally, Algert Global LLC grew its holdings in shares of Asana by 296.4% in the first quarter. Algert Global LLC now owns 425,925 shares of the company's stock worth $6,206,000 after purchasing an additional 318,484 shares during the last quarter. Institutional investors own 26.21% of the company's stock.

Asana Stock Down 0.3%

Asana stock traded down $0.04 on Tuesday, hitting $13.74. 1,092,972 shares of the stock traded hands, compared to its average volume of 3,553,786. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.23 billion, a P/E ratio of -15.43 and a beta of 1.14. The business's fifty day simple moving average is $14.24 and its 200 day simple moving average is $15.23. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.25). The firm 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 period in the prior year, the business posted ($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. As a group, sell-side analysts forecast that Asana, Inc. will post -1.09 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on ASAN shares. Piper Sandler restated an "overweight" rating and issued a $19.00 target price on shares of Asana in a report on Thursday, September 4th. UBS Group lifted their price target on shares of Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. KeyCorp reiterated a "sector weight" rating on shares of Asana in a report on Wednesday, June 4th. Bank of America cut their price target on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a 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 issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Asana presently has a consensus rating of "Hold" and a consensus price target of $16.10.

Insider Buying and Selling at Asana

In other Asana news, Director Justin Rosenstein sold 966,576 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the completion of the transaction, the director owned 4,797,091 shares of the company's stock, valued at approximately $72,148,248.64. This trade represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were purchased at an average cost 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 trade represents a 0.44% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 5,375,000 shares of company stock valued at $75,920,894 and have sold 3,033,130 shares valued at $45,552,218. Company insiders own 61.28% of the company's stock.

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.