Voya Investment Management LLC Cuts Position in Asana, Inc. $ASAN

Key Points

• Voya Investment Management LLC reduced its stake in Asana, Inc. by 28.8%, owning approximately 3.79% of the company post-sale, worth about $130 million.
• Wall Street analysts have mixed reviews on Asana, with target prices ranging from $16.50 to $22.00 and a consensus rating of "Hold."
• Insider transactions saw Director Dustin A. Moskovitz buying 122,470 shares at an average price of $13.52, while insiders overall purchased 5.375 million shares in the last ninety days.

Voya Investment Management LLC reduced its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 28.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,928,933 shares of the company's stock after selling 3,610,105 shares during the period. Voya Investment Management LLC owned approximately 3.79% of Asana worth $130,095,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vident Advisory LLC bought a new stake in shares of Asana during the 4th quarter worth $460,000. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 475,100 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Asana in the first quarter worth $1,148,000. Charles Schwab Investment Management Inc. lifted its stake in Asana by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company's stock worth $10,815,000 after purchasing an additional 47,480 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in Asana in the fourth quarter worth $352,000. 26.21% of the stock is owned by institutional investors.

Insider Transactions at Asana

In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was bought at an average cost of $13.58 per share, with a total value of $3,055,500.00. Following the completion of the purchase, the chief executive officer directly owned 51,711,191 shares in the company, valued at approximately $702,237,973.78. This represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Justin Rosenstein sold 966,576 shares of the 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 completion of the transaction, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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 corporate insiders.

Analysts Set New Price Targets

ASAN has been the subject of several recent research reports. Robert W. Baird boosted their price target on shares of Asana from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. boosted their price target on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 4th. 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 research note on Wednesday, June 4th. Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 price target on shares of Asana in a research note on Wednesday, June 4th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price objective on shares of Asana in a research note on Wednesday, June 4th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $16.10.

Asana Trading Up 3.6%

Shares of NYSE ASAN traded up $0.50 during midday trading on Thursday, hitting $14.24. 1,492,880 shares of the company traded hands, compared to its average volume of 3,555,885. Asana, Inc. has a 12-month low of $11.08 and a 12-month high of $27.77. The firm has a market cap of $3.36 billion, a P/E ratio of -15.99 and a beta of 1.14. The stock has a 50-day moving average price of $14.16 and a 200 day moving average price of $15.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.20) earnings per share (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 period in the previous year, the company earned ($0.05) earnings per share. Asana'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, analysts expect that Asana, Inc. will post -1.09 earnings per share 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.