Charles Schwab Investment Management Inc. Increases Stock Holdings in Asana, Inc. $ASAN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Asana, Inc. by 6.8% during the 1st quarter, owning 742,272 shares valued at approximately $10.8 million.
• Major hedge funds have also acquired new positions in Asana, with institutional investors now owning 26.21% of the company's stock.
• Wall Street analysts have varying opinions on Asana, with an average rating of "Hold" and a consensus target price of $15.97.

Charles Schwab Investment Management Inc. raised its position in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 742,272 shares of the company's stock after buying an additional 47,480 shares during the period. Charles Schwab Investment Management Inc. owned about 0.32% of Asana worth $10,815,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ASAN. Banque Cantonale Vaudoise purchased a new stake in Asana during the 1st quarter valued at $28,000. Quarry LP bought a new position in Asana in the 4th quarter worth $29,000. State of Tennessee Department of Treasury bought a new position in Asana in the 4th quarter worth $135,000. 180 Wealth Advisors LLC bought a new position in Asana in the 1st quarter worth $146,000. Finally, Blueshift Asset Management LLC bought a new position in Asana in the 1st quarter worth $169,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Insider Activity at Asana

In other Asana news, Director Justin Rosenstein sold 966,576 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $72,148,248.64. This trade represents a 16.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Tuesday, July 1st. The stock was acquired 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 $702,237,973.78. The trade was a 0.44% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ASAN. Wall Street Zen lowered shares of Asana from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Piper Sandler upped their price objective on shares of Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Bank of America dropped their price target on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. Scotiabank lifted their price target on Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, KeyCorp restated a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Asana has a consensus rating of "Hold" and a consensus price target of $15.97.

Asana Stock Performance

Shares of Asana stock traded up $0.06 during trading hours on Friday, reaching $14.62. 3,419,585 shares of the stock traded hands, compared to its average volume of 3,420,444. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -14.62 and a beta of 1.14. The company has a 50 day moving average price of $14.13 and a 200 day moving average price of $15.70.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%.The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) EPS. Asana has set its FY 2026 guidance at 0.220-0.220 EPS. Q2 2026 guidance at 0.040-0.050 EPS. On average, equities research analysts expect that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

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.