Whetstone Capital Advisors LLC Reduces Position in Asana, Inc. $ASAN

Key Points

• Whetstone Capital Advisors cut its Asana position by 72.5% in the second quarter, selling 276,616 shares and retaining 105,100 shares valued at approximately $736,000.
• Asana insiders sold 119,959 shares worth $809,325 over the past 90 days, while insiders still own 87.54% of the company; institutional investors own 26.21%.
• Analysts maintain a consensus “Hold” rating with a $9.95 price target. Asana recently exceeded quarterly earnings and revenue expectations, but its shares were trading down 6.0% and the company remains unprofitable.

Whetstone Capital Advisors LLC reduced its position in Asana, Inc. (NYSE:ASAN - Free Report) by 72.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,100 shares of the company's stock after selling 276,616 shares during the quarter. Whetstone Capital Advisors LLC's holdings in Asana were worth $736,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vident Advisory LLC raised its holdings in shares of Asana by 4.3% in the third quarter. Vident Advisory LLC now owns 22,527 shares of the company's stock worth $301,000 after buying an additional 930 shares during the period. ProShare Advisors LLC boosted its holdings in Asana by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 16,412 shares of the company's stock valued at $225,000 after acquiring an additional 1,188 shares during the period. Daiwa Securities Group Inc. grew its position in Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock valued at $59,000 after acquiring an additional 1,706 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Asana by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company's stock valued at $707,000 after acquiring an additional 2,328 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Asana by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 52,327 shares of the company's stock worth $706,000 after purchasing an additional 2,373 shares during the period. Hedge funds and other institutional investors own 26.21% of the company's stock.

Insider Buying and Selling at Asana

In related news, CEO Daniel Rogers sold 26,975 shares of Asana stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $179,653.50. Following the transaction, the chief executive officer directly owned 1,905,780 shares of the company's stock, valued at $12,692,494.80. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Veronica Sosa sold 11,378 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $75,777.48. Following the sale, the chief accounting officer owned 62,344 shares of the company's stock, valued at approximately $415,211.04. This represents a 15.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 119,959 shares of company stock valued at $809,325 in the last ninety days. Company insiders own 87.54% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ASAN shares. Wall Street Zen downgraded Asana from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. DA Davidson raised their price target on shares of Asana from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Barclays lowered shares of Asana to an "outperform" rating in a report on Monday, August 24th. BTIG Research reissued a "neutral" rating on shares of Asana in a research report on Friday, September 4th. Finally, KeyCorp dropped their target price on shares of Asana from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Asana presently has an average rating of "Hold" and a consensus price target of $9.95.

Asana Trading Down 6.0%

Shares of Asana stock opened at $8.26 on Thursday. The stock's fifty day moving average price is $8.52 and its 200-day moving average price is $7.39. The firm has a market cap of $1.90 billion, a P/E ratio of -12.52 and a beta of 0.95. Asana, Inc. has a 12 month low of $5.38 and a 12 month high of $15.48.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The company had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. Analysts forecast that Asana, Inc. will post -0.44 earnings per share for the current year.

Asana Company Profile

Asana, Inc NYSE: ASAN is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana's platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company's cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.

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