Healthcare of Ontario Pension Plan Trust Fund Buys New Position in Asana, Inc. $ASAN

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Asana, Inc. (NYSE:ASAN) during the 1st quarter, Holdings Channel reports. The fund purchased 158,732 shares of the company’s stock, valued at approximately $1,016,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Performa Ltd US LLC boosted its stake in shares of 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 acquiring an additional 4,775 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Asana in the 4th quarter worth $50,000. Summit Securities Group LLC bought a new position in Asana in the 1st quarter worth $53,000. Daiwa Securities Group Inc. lifted its position in Asana by 64.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after purchasing an additional 1,706 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Asana during the second quarter valued at $90,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Performance

NYSE ASAN opened at $8.31 on Friday. The stock has a 50 day moving average price of $7.39 and a 200-day moving average price of $7.49. Asana, Inc. has a one year low of $5.38 and a one year high of $15.71. The company has a market capitalization of $1.92 billion, a P/E ratio of -12.05 and a beta of 0.97.

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

Insider Activity

In related news, CFO Aziz Megji sold 31,696 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $6.66, for a total value of $211,095.36. Following the sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Marie Colendich sold 8,337 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $6.74, for a total transaction of $56,191.38. Following the completion of the sale, the insider directly owned 181,840 shares of the company’s stock, valued at approximately $1,225,601.60. The trade was a 4.38% 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. Over the last 90 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.

Wall Street Analyst Weigh In

A number of brokerages have commented on ASAN. Citizens Jmp restated a “market outperform” rating and issued a $15.00 price target on shares of Asana in a research report on Tuesday, July 7th. KeyCorp lowered their price objective on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Morgan Stanley cut their price objective on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday, May 29th. Royal Bank Of Canada increased their target price 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. Finally, Zacks Research upgraded shares of Asana from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. One equities 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 issued a Sell rating to the company. Based on data from MarketBeat, Asana currently has an average rating of “Hold” and an average target price of $9.27.

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.