Bank of New York Mellon Corp Sells 31,615 Shares of Asana, Inc. $ASAN

Bank of New York Mellon Corp trimmed its holdings in Asana, Inc. (NYSE:ASAN) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 540,286 shares of the company’s stock after selling 31,615 shares during the period. Bank of New York Mellon Corp owned about 0.23% of Asana worth $7,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ASAN. Acadian Asset Management LLC raised its holdings in shares of Asana by 8,850.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company’s stock worth $16,950,000 after acquiring an additional 1,151,369 shares during the last quarter. Woodline Partners LP increased its holdings in Asana by 700.1% during the 1st quarter. Woodline Partners LP now owns 688,713 shares of the company’s stock worth $10,035,000 after purchasing an additional 602,638 shares in the last quarter. Nuveen LLC bought a new stake in Asana during the 1st quarter worth approximately $8,419,000. Vanguard Group Inc. raised its stake in shares of Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company’s stock worth $155,261,000 after purchasing an additional 475,100 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Asana by 117.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 623,994 shares of the company’s stock valued at $9,092,000 after purchasing an additional 336,641 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Asana

In other Asana news, Director Justin Rosenstein sold 1,199,560 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $15.23, for a total transaction of $18,269,298.80. Following the completion of the transaction, the director directly owned 1,555,925 shares of the company’s stock, valued at approximately $23,696,737.75. This represents a 43.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sonalee Elizabeth Parekh sold 194,976 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $14.17, for a total value of $2,762,809.92. Following the completion of the sale, the chief financial officer directly owned 1,140,067 shares of the company’s stock, valued at $16,154,749.39. This represents a 14.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,427,928 shares of company stock worth $36,497,981. Insiders own 61.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ASAN shares. Morgan Stanley upped their price target on Asana from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Thursday, September 4th. Robert W. Baird upped their target price on shares of Asana from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 target price on shares of Asana in a report on Thursday, September 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Asana from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.10.

Asana Price Performance

ASAN opened at $12.18 on Friday. Asana, Inc. has a fifty-two week low of $11.58 and a fifty-two week high of $27.77. The firm has a 50-day moving average of $13.72 and a 200 day moving average of $14.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $2.88 billion, a P/E ratio of -13.69 and a beta of 1.05.

Asana (NYSE:ASAN) last released its earnings results 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). 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 analysts’ expectations of $193.01 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The firm’s 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. On average, research analysts expect that Asana, Inc. will post -1.09 EPS for the current 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.