Ieq Capital LLC Acquires New Holdings in Asana, Inc. $ASAN

Key Points

• Ieq Capital LLC purchased a new stake of 40,645 shares in Asana, Inc. during the first quarter, valued at approximately $592,000.
• Director Justin Rosenstein sold 966,576 shares of Asana, reducing his position by 16.77%, while CEO Dustin A. Moskovitz increased his holdings by acquiring 225,000 shares.
• Asana's stock has had a volatile year, with a 12-month low of $11.05 and a high of $27.77, and analysts have given it an average rating of "Hold" with a price target of $15.97.

Ieq Capital LLC acquired a new stake in Asana, Inc. (NYSE:ASAN - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 40,645 shares of the company's stock, valued at approximately $592,000.

A number of other hedge funds have also bought and sold shares of the business. Vise Technologies Inc. grew its stake in Asana by 6.5% in the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock valued at $320,000 after buying an additional 959 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Asana by 3.1% in the 1st quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock valued at $473,000 after purchasing an additional 974 shares during the period. Banque Cantonale Vaudoise bought a new position in Asana in the 1st quarter valued at $28,000. AlphaQuest LLC boosted its holdings in Asana by 825.1% in the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after purchasing an additional 2,203 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Asana by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company's stock valued at $937,000 after purchasing an additional 2,538 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ASAN. Bank of America cut their price target on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a report on Wednesday, June 4th. Wall Street Zen raised shares of Asana from a "hold" rating to a "buy" rating in a report on Friday. HSBC reissued a "reduce" rating and issued a $10.00 price target (down from $13.00) on shares of Asana 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 stock an "underweight" rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.10.

Insider Activity

In related news, 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 transaction of $14,537,303.04. Following the transaction, the director owned 4,797,091 shares in the company, valued at $72,148,248.64. The trade was a 16.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Tuesday, July 1st. The shares were bought 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. This trade represents a 0.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 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 owned by insiders.

Asana Trading Down 0.3%

Asana stock traded down $0.04 during mid-day trading on Tuesday, hitting $13.74. The company's stock had a trading volume of 1,092,972 shares, compared to its average volume of 3,553,786. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -15.43 and a beta of 1.14. The business has a 50 day moving average price of $14.24 and a 200-day moving average price of $15.23. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings data 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). 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 quarter in the previous year, the firm posted ($0.05) EPS. Asana's revenue was up 9.9% compared to the same quarter last year. 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, analysts forecast that Asana, Inc. will post -1.09 EPS for the current 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.