Arrowstreet Capital Limited Partnership Has $45.98 Million Stake in Asana, Inc. $ASAN

Arrowstreet Capital Limited Partnership raised its holdings in Asana, Inc. (NYSE:ASAN) by 37.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,184,248 shares of the company’s stock after purchasing an additional 1,969,657 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 3.02% of Asana worth $45,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Performa Ltd US LLC lifted its position in Asana by 335.1% during the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock worth $40,000 after buying an additional 4,775 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Asana in the fourth quarter worth about $50,000. Summit Securities Group LLC bought a new position in shares of Asana in the first quarter worth about $53,000. Daiwa Securities Group Inc. lifted its position in shares of Asana by 64.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after purchasing an additional 1,706 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Asana during the second quarter worth approximately $90,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Up 12.9%

Shares of ASAN stock opened at $7.74 on Tuesday. Asana, Inc. has a 12-month low of $5.38 and a 12-month high of $15.71. The firm has a fifty day moving average of $7.25 and a 200-day moving average of $7.59. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -11.22 and a beta of 0.97.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $205.09 million for the quarter, compared to analysts’ expectations of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, equities analysts expect that Asana, Inc. will post -0.4 EPS for the current year.

Insider Transactions at Asana

In other news, CAO Veronica Sosa sold 11,378 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $75,777.48. Following the completion of the transaction, the chief accounting officer directly owned 62,344 shares of the company’s stock, valued at $415,211.04. This represents a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aziz Megji sold 13,239 shares of Asana stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $6.73, for a total value of $89,098.47. Following the completion of the sale, the chief financial officer directly owned 765,389 shares in the company, valued at approximately $5,151,067.97. This represents a 1.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 118,304 shares of company stock valued at $792,775. 61.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on ASAN shares. Morgan Stanley dropped their price objective on shares of Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Asana from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. UBS Group restated a “neutral” rating and set a $8.00 target price on shares of Asana in a report on Friday, May 29th. Finally, Royal Bank Of Canada boosted their price objective on shares of Asana from $7.00 to $8.00 and gave the company a “sector perform” rating in a report on Friday, May 29th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.27.

About Asana

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.