First Trust Advisors LP Boosts Stake in Asana, Inc. $ASAN

First Trust Advisors LP increased its holdings in shares of Asana, Inc. (NYSE:ASAN) by 12.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,988,739 shares of the company’s stock after acquiring an additional 227,204 shares during the period. First Trust Advisors LP owned approximately 0.84% of Asana worth $12,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Earned Wealth Advisors LLC purchased a new position in Asana during the first quarter worth approximately $109,000. Performa Ltd US LLC grew its holdings in Asana by 335.1% in the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after purchasing an additional 4,775 shares during the period. Jennison Associates LLC purchased a new stake in shares of Asana in the first quarter valued at approximately $783,000. Bank of New York Mellon Corp increased its position in shares of Asana by 49.3% in the first quarter. Bank of New York Mellon Corp now owns 856,622 shares of the company’s stock valued at $5,482,000 after buying an additional 283,054 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in shares of Asana by 84.0% during the 1st quarter. 180 Wealth Advisors LLC now owns 22,982 shares of the company’s stock worth $147,000 after buying an additional 10,493 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ASAN shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a report on Friday, May 8th. Wall Street Zen downgraded shares of Asana from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Zacks Research upgraded shares of Asana from a “hold” rating to a “strong-buy” rating in a research report on Monday. Royal Bank Of Canada boosted their target price on shares of Asana from $7.00 to $8.00 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. Finally, Citigroup restated a “market outperform” rating on shares of Asana in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Asana currently has an average rating of “Hold” and an average target price of $9.27.

Insider Activity

In other news, CFO Aziz Megji sold 13,239 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $6.73, for a total transaction of $89,098.47. Following the completion of the sale, the chief financial officer owned 765,389 shares in the company, valued at $5,151,067.97. This trade represents a 1.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Mark Rogers sold 13,790 shares of Asana stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $6.89, for a total transaction of $95,013.10. Following the sale, the chief executive officer directly owned 1,891,990 shares in the company, valued at approximately $13,035,811.10. The trade was a 0.72% 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 a total of 118,304 shares of company stock valued at $792,775 in the last ninety days. 61.28% of the stock is currently owned by company insiders.

Asana Stock Performance

Shares of Asana stock opened at $7.96 on Friday. The business’s 50 day moving average price is $7.35 and its 200 day moving average price is $7.49. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -11.53 and a beta of 0.97. Asana, Inc. has a one year low of $5.38 and a one year high of $15.71.

Asana (NYSE:ASAN) last issued its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $205.09 million during the quarter, compared to analysts’ expectations of $203.58 million. During the same period in the prior year, the business earned $0.05 EPS. The firm’s quarterly 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. On average, analysts predict that Asana, Inc. will post -0.4 EPS for the current fiscal 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.