Asana, Inc. $ASAN Shares Acquired by Woodline Partners LP

Key Points

• Woodline Partners LP increased its stake in Asana, Inc. by 700.1%, acquiring an additional 602,638 shares for a total of 688,713 shares worth approximately $10 million.
• Asana reported a loss of ($0.20) EPS for the last quarter, missing expectations, despite a 9.9% year-over-year revenue increase to $196.94 million.
• Insider trading activity includes CEO Dustin Moskovitz purchasing 225,000 shares, raising his stake slightly, while Director Justin Rosenstein sold 966,576 shares, significantly reducing his ownership.

Woodline Partners LP boosted its holdings in Asana, Inc. (NYSE:ASAN - Free Report) by 700.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 688,713 shares of the company's stock after buying an additional 602,638 shares during the period. Woodline Partners LP owned 0.30% of Asana worth $10,035,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in Asana in the 1st quarter worth $28,000. AlphaQuest LLC grew its position in shares of Asana by 825.1% during the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after purchasing an additional 2,203 shares in the last quarter. Quarry LP grew its position in shares of Asana by 104.8% during the first quarter. Quarry LP now owns 2,906 shares of the company's stock valued at $42,000 after purchasing an additional 1,487 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Asana by 5,815.7% during the first quarter. GAMMA Investing LLC now owns 9,820 shares of the company's stock valued at $1,430,000 after purchasing an additional 9,654 shares in the last quarter. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Asana during the first quarter valued at about $146,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of research analyst reports. Royal Bank Of Canada restated an "underperform" rating and set a $10.00 price objective on shares of Asana in a research report on Wednesday, June 4th. KeyCorp reiterated a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and issued a $19.00 price target on shares of Asana in a research report on Thursday, September 4th. JMP Securities reiterated a "market outperform" rating and issued a $22.00 price target on shares of Asana in a research report on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.10.

Insiders Place Their Bets

In other Asana news, CEO Dustin A. Moskovitz bought 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, for a total transaction of $3,055,500.00. Following the completion of the transaction, the chief executive officer directly owned 51,711,191 shares of the company's stock, valued at approximately $702,237,973.78. This trade represents a 0.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the director owned 4,797,091 shares of the company's stock, valued at approximately $72,148,248.64. This trade represents a 16.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 5,375,000 shares of company stock valued at $75,920,894 and have sold 3,033,130 shares valued at $45,552,218. Insiders own 61.28% of the company's stock.

Asana Stock Performance

Shares of ASAN traded up $0.16 during trading hours on Wednesday, reaching $13.80. 778,018 shares of the company traded hands, compared to its average volume of 3,554,637. The stock has a market capitalization of $3.26 billion, a P/E ratio of -15.46 and a beta of 1.14. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.16. Asana, Inc. has a 12-month low of $11.08 and a 12-month high of $27.77. The business has a fifty day moving average price of $14.18 and a 200-day moving average price of $15.02.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $196.94 million for the quarter, compared to analysts' expectations of $193.01 million. Asana had a negative net margin of 27.50% and a negative return on equity of 83.88%. Asana's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. Equities analysts anticipate 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.