Bogart Wealth LLC Takes $27,000 Position in Asana, Inc. $ASAN

Bogart Wealth LLC bought a new position in shares of Asana, Inc. (NYSE:ASAN) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Asana during the 2nd quarter worth about $649,000. Blue Trust Inc. raised its holdings in Asana by 13.7% during the second quarter. Blue Trust Inc. now owns 26,638 shares of the company’s stock worth $360,000 after acquiring an additional 3,216 shares in the last quarter. 111 Capital bought a new stake in Asana during the second quarter worth about $186,000. GC Wealth Management RIA LLC acquired a new position in Asana during the second quarter valued at approximately $831,000. Finally, Catalyst Private Wealth LLC grew its stake in Asana by 3.1% in the second quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company’s stock valued at $580,000 after purchasing an additional 1,285 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ASAN. Robert W. Baird increased their price target on shares of Asana from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, September 4th. Morgan Stanley boosted their price target on Asana from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Thursday, September 4th. Wall Street Zen lowered shares of Asana from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a research note on Wednesday, October 8th. Finally, Piper Sandler reissued an “overweight” rating and set a $19.00 target price on shares of Asana in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Asana has a consensus rating of “Hold” and a consensus price target of $16.10.

Asana Trading Up 0.8%

ASAN opened at $14.73 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.41 and a quick ratio of 1.41. Asana, Inc. has a fifty-two week low of $11.58 and a fifty-two week high of $27.77. The company’s 50 day moving average price is $14.04 and its two-hundred day moving average price is $14.81. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -16.55 and a beta of 1.11.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.25). Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The business had revenue of $196.94 million for the quarter, compared to analyst estimates of $193.01 million. During the same quarter last year, the firm posted ($0.05) EPS. Asana’s revenue for the quarter was up 9.9% on a year-over-year basis. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. As a group, research analysts predict that Asana, Inc. will post -1.09 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 28,026 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $14.17, for a total value of $397,128.42. Following the completion of the sale, the chief operating officer owned 862,469 shares of the company’s stock, valued at approximately $12,221,185.73. This represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 14,500 shares of Asana stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $15.07, for a total value of $218,515.00. Following the completion of the transaction, the director directly owned 1,541,425 shares in the company, valued at approximately $23,229,274.75. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,042,437 shares of company stock worth $42,519,991 and have sold 2,812,814 shares worth $42,300,839. Insiders own 61.28% of the company’s stock.

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.