Panagora Asset Management Inc. Takes Position in Asana, Inc. $ASAN

Key Points

• Panagora Asset Management Inc. acquired 105,859 shares of Asana, Inc. valued at approximately $1.54 million in the first quarter, reflecting continued interest from institutional investors.
• Analyst upgrades have raised the target price for Asana, with Piper Sandler setting it at $19.00 and Scotiabank at $16.50, while Bank of America lowered it to $21.00.
• Asana reported a miss on earnings with an EPS of ($0.20), while revenue for the quarter was $196.94 million, indicating a year-over-year increase of 9.9%.

Panagora Asset Management Inc. bought a new position in Asana, Inc. (NYSE:ASAN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 105,859 shares of the company's stock, valued at approximately $1,542,000.

Several other large investors have also added to or reduced their stakes in ASAN. Vident Advisory LLC purchased a new position in shares of Asana during the 4th quarter valued at $460,000. Landscape Capital Management L.L.C. bought a new position in shares of Asana during the first quarter worth $1,148,000. Vanguard Group Inc. lifted its stake in Asana by 4.7% in the 1st 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Asana by 6.8% during the first 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 in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Asana in the fourth quarter worth about $352,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a report on Wednesday, June 4th. Piper Sandler restated an "overweight" rating and issued a $19.00 price target on shares of Asana in a research report on Thursday. Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 price objective on shares of Asana in a research note on Wednesday, June 4th. Scotiabank boosted their target price on shares of Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Finally, Bank of America lowered 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $16.10.

Insider Buying and Selling at Asana

In related news, Director Justin Rosenstein sold 966,576 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the transaction, the director directly owned 4,797,091 shares of the company's stock, valued at $72,148,248.64. This represents a 16.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was acquired 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 owned 51,711,191 shares of the company's stock, valued at approximately $702,237,973.78. This represents a 0.44% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 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 currently owned by insiders.

Asana Stock Down 8.2%

Shares of NYSE:ASAN traded down $1.20 during trading hours on Friday, hitting $13.44. The company's stock had a trading volume of 9,397,682 shares, compared to its average volume of 4,148,384. The firm's fifty day moving average price is $14.23 and its 200 day moving average price is $15.33. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -15.10 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47.

Asana (NYSE:ASAN - Get Free Report) last posted 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). Asana had a negative return on equity of 83.00% and a negative net margin of 27.50%.The company had revenue of $196.94 million for the quarter, compared to analysts' expectations of $193.01 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm's quarterly revenue was up 9.9% on a year-over-year basis. 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, research analysts expect that Asana, Inc. will post -1.09 EPS for the current 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.