Asana, Inc. $ASAN Shares Acquired by Acadian Asset Management LLC

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 lifted its position in Asana, Inc. (NYSE:ASAN - Free Report) by 8,850.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,164,378 shares of the company's stock after acquiring an additional 1,151,369 shares during the quarter. Acadian Asset Management LLC owned 0.50% of Asana worth $16,950,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vident Advisory LLC purchased a new stake in shares of Asana in the 4th quarter worth approximately $460,000. Vanguard Group Inc. lifted its position in shares of Asana by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock worth $155,261,000 after purchasing an additional 475,100 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Asana in the 1st quarter worth approximately $1,148,000. Charles Schwab Investment Management Inc. lifted its position in shares of Asana by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company's stock worth $10,815,000 after purchasing an additional 47,480 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Asana in the 4th quarter worth approximately $352,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Stock Performance

Shares of Asana stock traded up $0.14 during trading on Tuesday, hitting $13.54. 1,903,929 shares of the company's stock were exchanged, compared to its average volume of 3,564,486. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -15.20 and a beta of 1.14. The business has a 50-day simple moving average of $14.20 and a 200-day simple moving average of $15.03. Asana, Inc. has a 52-week low of $11.08 and a 52-week high of $27.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41.

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

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. FBN Securities raised shares of Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. Bank of America reduced their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. KeyCorp reiterated a "sector weight" rating on shares of Asana in a research note on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and set a $19.00 price objective on shares of Asana in a research note on Thursday, September 4th. Finally, HSBC reiterated a "reduce" rating and set a $10.00 price objective (down previously from $13.00) on shares of Asana in a research note on Wednesday, June 4th. One investment 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. Based on data from MarketBeat.com, Asana presently has an average rating of "Hold" and an average price target 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.