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 lifted its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 700.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 688,713 shares of the company's stock after purchasing an additional 602,638 shares during the period. Woodline Partners LP owned about 0.30% of Asana worth $10,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vident Advisory LLC acquired a new stake in Asana in the 4th quarter worth about $460,000. Vanguard Group Inc. lifted its holdings in Asana by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock valued at $155,261,000 after purchasing an additional 475,100 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Asana during the 1st quarter worth $1,148,000. Charles Schwab Investment Management Inc. raised its position in shares of Asana by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company's stock valued at $10,815,000 after buying an additional 47,480 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Asana in the fourth quarter valued at about $352,000. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Trading Up 1.2%

Asana stock traded up $0.17 during midday trading on Tuesday, reaching $13.57. 1,800,779 shares of the stock traded hands, compared to its average volume of 3,563,609. The firm has a market cap of $3.20 billion, a PE ratio of -15.22 and a beta of 1.14. 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 50-day simple moving average of $14.20 and a two-hundred day simple moving average of $15.03. Asana, Inc. has a 12-month low of $11.08 and a 12-month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the business posted ($0.05) earnings per share. The firm's 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. Research analysts expect that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ASAN shares. Morgan Stanley boosted their price target on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Thursday, September 4th. Royal Bank Of Canada restated an "underperform" rating and set a $10.00 target price on shares of Asana in a report on Wednesday, June 4th. HSBC reaffirmed a "reduce" rating and issued a $10.00 price target (down previously from $13.00) on shares of Asana in a report on Wednesday, June 4th. Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Finally, Jefferies Financial Group boosted their price target on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research report on Wednesday, June 4th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Asana presently has a consensus rating of "Hold" and a consensus price target of $16.10.

Insiders Place Their Bets

In other news, Director Dustin A. Moskovitz purchased 122,470 shares of the firm'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 completion of the purchase, the director directly owned 57,898,436 shares of the company's stock, valued at $782,786,854.72. The trade was a 0.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. 61.28% of the stock is currently owned by company insiders.

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.