105,859 Shares in Asana, Inc. $ASAN Acquired by Panagora Asset Management Inc.

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. acquired a new position in Asana, Inc. (NYSE:ASAN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 105,859 shares of the company's stock, valued at approximately $1,542,000.

Several other large investors also recently added to or reduced their stakes in the company. Vident Advisory LLC increased its holdings in Asana by 9.6% in the 1st quarter. Vident Advisory LLC now owns 24,852 shares of the company's stock worth $362,000 after acquiring an additional 2,168 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Asana in the 1st quarter worth about $1,148,000. Ieq Capital LLC purchased a new stake in Asana in the 1st quarter worth about $592,000. AlphaQuest LLC boosted its stake in Asana by 825.1% in the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after purchasing an additional 2,203 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Asana in the 1st quarter worth about $648,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ASAN shares. KeyCorp restated a "sector weight" rating on shares of Asana in a research note on Wednesday, June 4th. Robert W. Baird raised their target price on Asana from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, September 4th. Bank of America cut their target price on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. HSBC restated a "reduce" rating and issued a $10.00 target price (down previously from $13.00) on shares of Asana in a research note on Wednesday, June 4th. Finally, Piper Sandler restated an "overweight" rating and issued a $19.00 target price on shares of Asana in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Asana currently has a consensus rating of "Hold" and an average target price of $16.10.

Insiders Place Their Bets

In other news, Director Dustin A. Moskovitz bought 122,470 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average price of $13.52 per share, for a total transaction of $1,655,794.40. Following the transaction, the director directly owned 57,898,436 shares of the company's stock, valued at $782,786,854.72. This represents a 0.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders purchased 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 owned by insiders.

Asana Price Performance

Shares of NYSE ASAN traded down $0.11 during midday trading on Tuesday, hitting $13.67. 1,317,615 shares of the company's stock were exchanged, compared to its average volume of 3,554,850. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -15.33 and a beta of 1.14. The business's fifty day moving average price is $14.24 and its two-hundred day moving average price is $15.23.

Asana (NYSE:ASAN - Get Free Report) last released 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). The firm had revenue of $196.94 million during the quarter, compared to the consensus estimate of $193.01 million. Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The business's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. 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 forecast that Asana, Inc. will post -1.09 EPS for the current fiscal year.

About Asana

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.