577,858 Shares in Asana, Inc. $ASAN Acquired by Nuveen LLC

Key Points

• Nuveen LLC invested approximately $8.42 million in Asana, acquiring 577,858 shares, representing about 0.25% of the company.
• Asana's quarterly earnings surpassed expectations with an EPS of $0.05 and a revenue of $187.63 million, marking an 8.6% year-over-year increase.
• Insider transactions show significant activity, with insiders owning 61.28% of the company, including a recent purchase of 225,000 shares by Director Dustin A. Moskovitz.

Nuveen LLC purchased a new position in Asana, Inc. (NYSE:ASAN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 577,858 shares of the company's stock, valued at approximately $8,419,000. Nuveen LLC owned about 0.25% of Asana at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG increased its position in Asana by 2.6% during the first quarter. Deutsche Bank AG now owns 189,698 shares of the company's stock valued at $2,764,000 after acquiring an additional 4,855 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Asana by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company's stock valued at $10,815,000 after purchasing an additional 47,480 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock worth $155,261,000 after buying an additional 475,100 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Asana in the first quarter worth approximately $1,678,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Asana in the first quarter worth approximately $169,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. FBN Securities upgraded Asana to a "strong-buy" rating in a report on Wednesday, June 4th. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price target on shares of Asana in a research report on Wednesday, June 4th. Bank of America reduced their price objective on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. UBS Group lifted their price target on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, KeyCorp restated a "sector weight" rating on shares of Asana in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.97.

Asana Stock Performance

Shares of NYSE ASAN traded up $0.38 during midday trading on Thursday, reaching $14.71. 2,004,197 shares of the company were exchanged, compared to its average volume of 3,416,533. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The stock has a fifty day simple moving average of $14.08 and a 200 day simple moving average of $15.81. The stock has a market cap of $3.46 billion, a P/E ratio of -14.72 and a beta of 1.14.

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

Insider Activity at Asana

In other news, Director Dustin A. Moskovitz purchased 122,470 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were acquired at an average price of $13.52 per share, with a total value of $1,655,794.40. Following the purchase, the director directly owned 57,898,436 shares of the company's stock, valued at $782,786,854.72. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 5,375,000 shares of company stock worth $75,920,894 and sold 3,033,130 shares worth $45,552,218. 61.28% of the stock is owned by company insiders.

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.