Edgestream Partners L.P. Raises Holdings in Asana, Inc. $ASAN

Edgestream Partners L.P. raised its stake in Asana, Inc. (NYSE:ASAN) by 847.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,908 shares of the company’s stock after purchasing an additional 155,550 shares during the period. Edgestream Partners L.P. owned about 0.07% of Asana worth $2,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Asana by 13.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,738 shares of the company’s stock worth $492,000 after buying an additional 4,002 shares during the period. Federated Hermes Inc. purchased a new position in Asana in the first quarter worth approximately $477,000. Vanguard Group Inc. grew its holdings in Asana by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company’s stock worth $155,261,000 after acquiring an additional 475,100 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Asana by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company’s stock valued at $10,815,000 after purchasing an additional 47,480 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Asana by 2.6% in the 1st quarter. Deutsche Bank AG now owns 189,698 shares of the company’s stock valued at $2,764,000 after purchasing an additional 4,855 shares in the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Anne Raimondi sold 28,026 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $14.17, for a total transaction of $397,128.42. Following the completion of the sale, the chief operating officer owned 862,469 shares in the company, valued at $12,221,185.73. This represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justin Rosenstein sold 13,701 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $14.95, for a total transaction of $204,829.95. Following the transaction, the director directly owned 1,068,846 shares in the company, valued at $15,979,247.70. The trade was a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,427,928 shares of company stock valued at $36,497,981. 61.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup lowered their target price on shares of Asana from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday. DA Davidson decreased their price target on Asana from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley increased their price objective on Asana from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Thursday, September 4th. UBS Group cut their target price on Asana from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Wall Street Zen cut Asana from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus price target of $16.17.

Asana Stock Performance

Shares of ASAN stock opened at $14.13 on Friday. The stock’s 50-day moving average is $13.54 and its two-hundred day moving average is $14.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.41 and a current ratio of 1.40. Asana, Inc. has a 1 year low of $11.58 and a 1 year high of $27.77. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -15.19 and a beta of 0.93.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, December 2nd. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $201.03 million during the quarter, compared to the consensus estimate of $198.78 million. Asana had a negative return on equity of 79.80% and a negative net margin of 28.33%.The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) EPS. Asana has set its FY 2026 guidance at 0.250-0.260 EPS and its Q4 2026 guidance at 0.070-0.070 EPS. Analysts predict that Asana, Inc. will post -1.09 earnings per share for the current year.

Asana Profile

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.