GC Wealth Management RIA LLC Invests $831,000 in Asana, Inc. $ASAN

Key Points

• GC Wealth Management RIA LLC invested approximately $831,000 in Asana, acquiring 61,552 shares of the company during the 2nd quarter.
• Insider trading activity includes COO Anne Raimondi selling 28,026 shares valued at approximately $397,128, while Director Dustin A. Moskovitz acquired 122,470 shares for roughly $1.66 million.
• Wall Street analysts have varied opinions on Asana, with one analyst issuing a Strong Buy rating, and others providing price targets ranging from $12.00 to $19.00 per share.

GC Wealth Management RIA LLC acquired a new position in shares of Asana, Inc. (NYSE:ASAN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 61,552 shares of the company's stock, valued at approximately $831,000.

A number of other hedge funds have also recently added to or reduced their stakes in ASAN. Vanguard Group Inc. raised its holdings in shares of Asana by 4.7% during the first 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. Acadian Asset Management LLC grew its position in shares of Asana by 8,850.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock valued at $16,950,000 after buying an additional 1,151,369 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Asana by 6.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company's stock worth $10,815,000 after acquiring an additional 47,480 shares during the period. Woodline Partners LP lifted its holdings in Asana by 700.1% in the first quarter. Woodline Partners LP now owns 688,713 shares of the company's stock worth $10,035,000 after acquiring an additional 602,638 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Asana by 117.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 623,994 shares of the company's stock worth $9,092,000 after acquiring an additional 336,641 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Insider Buying and Selling at Asana

In other Asana news, COO Anne Raimondi sold 28,026 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $14.17, for a total value of $397,128.42. Following the transaction, the chief operating officer owned 862,469 shares in the company, valued at approximately $12,221,185.73. This represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dustin A. Moskovitz acquired 122,470 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average price of $13.52 per share, with a total value of $1,655,794.40. Following the completion of the acquisition, the director owned 57,898,436 shares of the company's stock, valued at $782,786,854.72. This represents a 0.21% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 5,062,245 shares of company stock valued at $71,727,439 and have sold 3,286,376 shares valued at $49,186,399. Company insiders own 61.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ASAN. Scotiabank increased their price target on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research report 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. Piper Sandler reissued an "overweight" rating and set a $19.00 price target on shares of Asana in a report on Thursday, September 4th. FBN Securities raised shares of Asana to a "strong-buy" rating in a report on Wednesday, June 4th. Finally, Morgan Stanley lifted their price objective on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research report 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 assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.10.

Asana Price Performance

NYSE:ASAN opened at $13.60 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.16. The business's 50-day moving average price is $14.13 and its 200 day moving average price is $14.88. Asana, Inc. has a 52-week low of $11.08 and a 52-week high of $27.77. The firm has a market cap of $3.21 billion, a P/E ratio of -15.28 and a beta of 1.14.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.25). The business had revenue of $196.94 million for the quarter, compared to the consensus estimate of $193.01 million. Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The company's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business 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. As a group, sell-side analysts predict that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Asana Company 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.

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