Voya Investment Management LLC Trims Stock Holdings 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 cut its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 28.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,928,933 shares of the company's stock after selling 3,610,105 shares during the quarter. Voya Investment Management LLC owned about 3.79% of Asana worth $130,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ASAN. Ameriprise Financial Inc. purchased a new position in Asana during the 4th quarter valued at about $352,000. BNP Paribas Financial Markets acquired a new stake in Asana in the fourth quarter valued at $653,000. Balyasny Asset Management L.P. purchased a new stake in Asana during the fourth quarter worth approximately $458,000. Deutsche Bank AG lifted its stake in Asana by 30.4% during the fourth quarter. Deutsche Bank AG now owns 184,843 shares of the company's stock worth $3,747,000 after purchasing an additional 43,053 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 buying an additional 2,538 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ASAN. Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 target price on shares of Asana in a report on Wednesday, June 4th. UBS Group upped their price objective on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. JMP Securities reiterated a "market outperform" rating and issued a $22.00 target price on shares of Asana in a research note on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and issued a $19.00 target price on shares of Asana in a research note on Thursday, September 4th. Finally, Scotiabank upped their target price on Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $16.10.

Insider Activity

In other Asana news, Director Dustin A. Moskovitz purchased 122,470 shares of Asana stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $13.52 per share, with a total value of $1,655,794.40. Following the completion of the acquisition, the director owned 57,898,436 shares of the company's stock, valued at approximately $782,786,854.72. This trade represents a 0.21% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, 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. Company insiders own 61.28% of the company's stock.

Asana Stock Up 0.7%

Shares of ASAN stock traded up $0.10 during trading hours on Wednesday, reaching $13.74. The company had a trading volume of 3,112,914 shares, compared to its average volume of 3,568,253. 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, Inc. has a twelve month low of $11.08 and a twelve month high of $27.77. The company has a market capitalization of $3.25 billion, a P/E ratio of -15.44 and a beta of 1.14. The stock's fifty day simple moving average is $14.18 and its 200 day simple moving average is $15.02.

Asana (NYSE:ASAN - Get Free Report) last posted its 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 net margin of 27.50% and a negative return on equity of 83.88%. The company had revenue of $196.94 million during the quarter, compared to analyst estimates of $193.01 million. During the same quarter last year, the business posted ($0.05) EPS. Asana's quarterly revenue was up 9.9% compared to the same quarter last year. 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, sell-side analysts expect that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Asana 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.