Invesco Ltd. Sells 320,204 Shares of Asana, Inc. $ASAN

Key Points

• Invesco Ltd. reduced its stake in Asana, Inc. by 85.3%, holding $804,000 worth of shares after selling 320,204 shares in the first quarter.
• Insider transactions reveal significant activity, with Director Justin Rosenstein selling 966,576 shares and CEO Dustin A. Moskovitz purchasing 225,000 shares recently.
• Asana's latest earnings report indicated a loss of ($0.20) EPS, missing estimates, despite a year-over-year revenue increase of 9.9%.

Invesco Ltd. lessened its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 85.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,148 shares of the company's stock after selling 320,204 shares during the period. Invesco Ltd.'s holdings in Asana were worth $804,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ASAN. Two Sigma Investments LP boosted its position in Asana by 288.1% during the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after acquiring an additional 1,043,047 shares in the last quarter. Vanguard Group Inc. boosted its position in Asana by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock valued at $155,261,000 after acquiring an additional 475,100 shares in the last quarter. Voloridge Investment Management LLC boosted its position in Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock valued at $43,574,000 after acquiring an additional 438,057 shares in the last quarter. Brooklyn FI LLC bought a new stake in shares of Asana in the 4th quarter worth approximately $8,138,000. Finally, Two Sigma Advisers LP boosted its position in shares of Asana by 70.3% in the 4th quarter. Two Sigma Advisers LP now owns 923,800 shares of the company's stock worth $18,725,000 after purchasing an additional 381,400 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Asana

In other news, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were purchased at an average cost of $13.58 per share, with a total value of $3,055,500.00. Following the acquisition, the chief executive officer directly owned 51,711,191 shares of the company's stock, valued at $702,237,973.78. This represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justin Rosenstein sold 966,576 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total value of $14,537,303.04. Following the transaction, the director directly 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 disclosure for this sale can be found here. Over the last three months, 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 owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on ASAN shares. JPMorgan Chase & Co. boosted their price target on Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 4th. JMP Securities reissued a "market outperform" rating and issued a $22.00 price target on shares of Asana in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday. Morgan Stanley raised their price objective on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Thursday, September 4th. Finally, Piper Sandler restated an "overweight" rating and set a $19.00 price objective on shares of Asana in a research note 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 stock. According to MarketBeat, Asana has a consensus rating of "Hold" and a consensus price target of $16.10.

Asana Stock Up 0.9%

ASAN stock traded up $0.13 during midday trading on Tuesday, hitting $13.90. The company's stock had a trading volume of 3,796,724 shares, compared to its average volume of 4,302,650. The firm's 50-day moving average is $14.24 and its 200-day moving average is $15.22. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a market cap of $3.27 billion, a PE ratio of -15.62 and a beta of 1.14. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.25). Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The company had revenue of $196.94 million during the quarter, compared to the consensus estimate of $193.01 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The business'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. On average, equities research analysts forecast 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.