Nuveen LLC Invests $8.42 Million in Asana, Inc. $ASAN

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 acquired a new stake in Asana, Inc. (NYSE:ASAN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 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 quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vise Technologies Inc. raised its stake in shares of Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after purchasing an additional 959 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Asana by 3.1% during the first quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock worth $473,000 after purchasing an additional 974 shares during the last quarter. Quarry LP purchased a new stake in shares of Asana during the fourth quarter worth approximately $29,000. Banque Cantonale Vaudoise purchased a new stake in shares of Asana during the first quarter worth approximately $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Asana by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company's stock worth $937,000 after purchasing an additional 2,538 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company's stock.

Analysts Set New Price Targets

ASAN has been the subject of several analyst reports. Piper Sandler upped their price target on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Robert W. Baird increased their price objective on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Jefferies Financial Group increased their price objective on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. HSBC reiterated a "reduce" rating and issued a $10.00 price objective (down previously from $13.00) on shares of Asana in a research report on Wednesday, June 4th. Finally, Bank of America cut their price objective on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. One investment 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 given a Sell rating to the company. According to MarketBeat, Asana currently has an average rating of "Hold" and an average target price of $15.97.

Asana Stock Up 0.4%

NYSE ASAN traded up $0.06 during mid-day trading on Friday, reaching $14.62. 3,419,585 shares of the company's stock traded hands, compared to its average volume of 3,420,444. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a fifty day simple moving average of $14.13 and a 200-day simple moving average of $15.70. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -14.62 and a beta of 1.14.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $185.40 million. During the same quarter last year, the firm earned ($0.06) EPS. Asana's quarterly 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. As a group, equities research analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Insider Activity at Asana

In other news, CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was 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 owned 51,711,191 shares in the company, valued at $702,237,973.78. The trade was a 0.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Justin Rosenstein sold 966,576 shares of Asana stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total value of $14,537,303.04. Following the completion of the transaction, the director owned 4,797,091 shares of the company's stock, valued at approximately $72,148,248.64. The trade was a 16.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 5,375,000 shares of company stock valued at $75,920,894 and sold 3,033,130 shares valued at $45,552,218. 61.28% of the stock is currently 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.