Bank of New York Mellon Corp Has $5.48 Million Stake in Asana, Inc. $ASAN

Key Points

• Bank of New York Mellon increased its Asana stake by 49.3% in the first quarter, acquiring 283,054 additional shares for a total of 856,622 shares valued at approximately $5.48 million.
• Other institutional investors also expanded their positions, while hedge funds and institutional investors collectively own 26.21% of Asana. Company insiders own 87.54% but sold 118,304 shares worth $792,775 over the past 90 days.
• Asana exceeded quarterly earnings and revenue expectations, reporting $0.10 EPS and $205.09 million in revenue, up 9.5% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $9.27.

Bank of New York Mellon Corp lifted its position in Asana, Inc. (NYSE:ASAN - Free Report) by 49.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 856,622 shares of the company's stock after buying an additional 283,054 shares during the quarter. Bank of New York Mellon Corp owned about 0.36% of Asana worth $5,482,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. boosted its holdings in Asana by 705.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company's stock worth $18,850,000 after purchasing an additional 1,204,232 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in Asana by 250.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 532,796 shares of the company's stock worth $3,410,000 after buying an additional 380,741 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Asana during the first quarter valued at about $591,000. GSA Capital Partners LLP bought a new position in Asana during the fourth quarter valued at about $829,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Asana by 45.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,607 shares of the company's stock worth $163,000 after buying an additional 3,931 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Insider Transactions at Asana

In other news, CEO Daniel Mark Rogers sold 13,790 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $6.89, for a total transaction of $95,013.10. Following the completion of the transaction, the chief executive officer directly owned 1,891,990 shares of the company's stock, valued at approximately $13,035,811.10. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Marie Colendich sold 5,242 shares of Asana stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $6.68, for a total transaction of $35,016.56. Following the sale, the insider owned 176,598 shares in the company, valued at approximately $1,179,674.64. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 118,304 shares of company stock valued at $792,775. Company insiders own 87.54% of the company's stock.

Asana Trading Up 2.6%

Shares of Asana stock opened at $8.75 on Wednesday. The company's fifty day simple moving average is $7.47 and its 200-day simple moving average is $7.41. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -12.68 and a beta of 0.93. Asana, Inc. has a 1 year low of $5.38 and a 1 year high of $15.71.

Asana (NYSE:ASAN - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The business had revenue of $205.09 million for the quarter, compared to analyst estimates of $203.58 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Asana's revenue was up 9.5% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, research analysts forecast that Asana, Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ASAN has been the subject of several recent analyst reports. Citizens Jmp reiterated a "market outperform" rating and set a $15.00 price target on shares of Asana in a research note on Tuesday, July 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of Asana in a research note on Friday, May 8th. DA Davidson restated a "neutral" rating and issued a $8.00 target price on shares of Asana in a report on Friday, May 29th. Zacks Research upgraded Asana from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $7.00 target price (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $9.27.

Asana Company Profile

Asana, Inc NYSE: ASAN is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana's platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company's cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.

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