Acadian Asset Management LLC Boosts Stake in Asana, Inc. $ASAN

Key Points

• Acadian Asset Management LLC increased its holdings in Asana, Inc. by 8,850.6% in Q1, acquiring over 1.1 million shares, making their total ownership approximately 0.50% of the company.
• Asana recently had a mixed earnings report, reporting a loss of ($0.20) EPS, which was below the consensus estimate, while revenue grew by 9.9% year-over-year.
• Wall Street analysts have varying opinions on Asana, with a consensus rating of "Hold" and an average target price of $16.10.

Acadian Asset Management LLC raised its position in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 8,850.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,164,378 shares of the company's stock after buying an additional 1,151,369 shares during the period. Acadian Asset Management LLC owned about 0.50% of Asana worth $16,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ASAN. Banque Cantonale Vaudoise acquired a new stake in shares of Asana in the first quarter valued at $28,000. AlphaQuest LLC raised its stake in shares of Asana by 825.1% in the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after acquiring an additional 2,203 shares in the last quarter. Quarry LP raised its stake in shares of Asana by 104.8% in the first quarter. Quarry LP now owns 2,906 shares of the company's stock valued at $42,000 after acquiring an additional 1,487 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of Asana in the first quarter valued at $146,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Asana in the first quarter valued at $169,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were purchased at an average price of $13.58 per share, for a total transaction 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. The trade was a 0.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justin Rosenstein sold 966,576 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total value of $14,537,303.04. Following the completion of the transaction, the director owned 4,797,091 shares in the company, valued at $72,148,248.64. This trade represents a 16.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 5,375,000 shares of company stock worth $75,920,894 and sold 3,033,130 shares worth $45,552,218. Insiders own 61.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ASAN. Bank of America cut their price target on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. UBS Group raised their price target on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. HSBC restated a "reduce" rating and issued a $10.00 price target (down from $13.00) on shares of Asana in a research note on Wednesday, June 4th. Finally, Robert W. Baird raised their price target on Asana from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, September 4th. One equities research 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.10.

Asana Stock Performance

Shares of Asana stock traded up $0.14 on Wednesday, hitting $13.78. The stock had a trading volume of 1,113,764 shares, compared to its average volume of 3,556,197. Asana, Inc. has a 52-week low of $11.08 and a 52-week high of $27.77. 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 stock has a market cap of $3.25 billion, a price-to-earnings ratio of -15.56 and a beta of 1.14. The company's 50 day moving average price is $14.18 and its 200 day moving average price is $15.02.

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

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.