Y Intercept Hong Kong Ltd Has $3.41 Million Stake in Asana, Inc. $ASAN

Key Points

• Y Intercept Hong Kong Ltd increased its Asana stake by 250.4% in the first quarter, ending with 532,796 shares valued at about $3.41 million.
• Several other institutional investors also boosted or initiated positions, and institutions now own 26.21% of Asana’s shares.
• Insiders have been selling stock recently, including CFO Aziz Megji and insider Katie Marie Colendich, while analysts currently rate Asana a “Hold” on average with a consensus price target of $9.27.

Y Intercept Hong Kong Ltd lifted its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 250.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 532,796 shares of the company's stock after acquiring an additional 380,741 shares during the period. Y Intercept Hong Kong Ltd owned 0.22% of Asana worth $3,410,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ASAN. Leonteq Securities AG raised its holdings in shares of Asana by 246.1% during the first quarter. Leonteq Securities AG now owns 24,678 shares of the company's stock valued at $158,000 after purchasing an additional 17,547 shares during the period. Wesbanco Bank Inc. grew its stake in shares of Asana by 54.4% in the 1st quarter. Wesbanco Bank Inc. now owns 113,500 shares of the company's stock valued at $726,000 after buying an additional 40,000 shares during the period. Blue Trust Inc. increased its position in Asana by 13.9% in the 1st quarter. Blue Trust Inc. now owns 33,716 shares of the company's stock valued at $216,000 after buying an additional 4,117 shares in the last quarter. SG Americas Securities LLC increased its position in Asana by 51.0% in the 1st quarter. SG Americas Securities LLC now owns 99,402 shares of the company's stock valued at $636,000 after buying an additional 33,592 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Asana by 18.3% during the 4th quarter. Invesco Ltd. now owns 106,753 shares of the company's stock worth $1,464,000 after buying an additional 16,500 shares during the period. 26.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Katie Marie Colendich sold 8,337 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $6.74, for a total value of $56,191.38. Following the transaction, the insider directly owned 181,840 shares of the company's stock, valued at approximately $1,225,601.60. This represents a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aziz Megji sold 31,696 shares of the business'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 $211,095.36. Following the completion of the transaction, the chief financial officer owned 778,628 shares of the company's stock, valued at $5,185,662.48. This represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,304 shares of company stock valued at $792,775 over the last ninety days. Insiders own 61.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. DA Davidson reissued a "neutral" rating and issued a $8.00 price objective on shares of Asana in a research note on Friday, May 29th. Piper Sandler reissued a "neutral" rating and issued a $7.00 price target (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. Royal Bank Of Canada upped their price objective on shares of Asana from $7.00 to $8.00 and gave the stock a "sector perform" rating in a report on Friday, May 29th. Wall Street Zen raised shares of Asana from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Finally, KeyCorp dropped their price target on shares of Asana from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Asana presently has an average rating of "Hold" and a consensus price target of $9.27.

Asana Price Performance

NYSE:ASAN traded up $0.52 during trading hours on Tuesday, hitting $7.72. The stock had a trading volume of 2,201,794 shares, compared to its average volume of 6,101,298. The company has a 50 day simple moving average of $6.96 and a two-hundred day simple moving average of $8.27. Asana, Inc. has a one year low of $5.38 and a one year high of $15.71. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -11.15 and a beta of 0.97.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business had revenue of $205.09 million during the quarter, compared to analysts' expectations of $203.58 million. During the same quarter last year, the business posted $0.05 EPS. The business's revenue was up 9.5% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Equities research analysts anticipate that Asana, Inc. will post -0.4 earnings per share for the current year.

Asana 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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