Jennison Associates LLC Buys New Holdings in Asana, Inc. $ASAN

Jennison Associates LLC purchased a new position in Asana, Inc. (NYSE:ASAN) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 122,356 shares of the company’s stock, valued at approximately $783,000. Jennison Associates LLC owned approximately 0.05% of Asana at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ASAN. 180 Wealth Advisors LLC grew its holdings in Asana by 6.8% during the 4th quarter. 180 Wealth Advisors LLC now owns 12,489 shares of the company’s stock valued at $171,000 after buying an additional 798 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Asana by 4.3% during the third quarter. Vident Advisory LLC now owns 22,527 shares of the company’s stock worth $301,000 after acquiring an additional 930 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Asana by 7.8% during the fourth quarter. ProShare Advisors LLC now owns 16,412 shares of the company’s stock worth $225,000 after acquiring an additional 1,188 shares during the last quarter. Daiwa Securities Group Inc. grew its stake 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 acquiring an additional 1,706 shares in the last quarter. Finally, Diversified Trust Co. grew its stake in Asana by 12.4% during the fourth quarter. Diversified Trust Co. now owns 16,468 shares of the company’s stock valued at $226,000 after acquiring an additional 1,822 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

Asana Stock Down 6.8%

ASAN stock opened at $6.89 on Thursday. Asana, Inc. has a 52 week low of $5.38 and a 52 week high of $15.71. The company has a fifty day simple moving average of $7.20 and a two-hundred day simple moving average of $7.72. The firm has a market capitalization of $1.59 billion, a P/E ratio of -9.98 and a beta of 0.97.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $205.09 million for the quarter, compared to the consensus estimate of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. 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. As a group, analysts anticipate that Asana, Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group reiterated a “neutral” rating and issued a $8.00 price target on shares of Asana in a research note on Friday, May 29th. Citizens Jmp restated a “market outperform” rating and set a $15.00 price objective on shares of Asana in a research report on Tuesday, July 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $7.00 target price (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Citigroup reiterated a “market outperform” rating on shares of Asana in a research report on Friday, May 29th. Finally, KeyCorp dropped their price target on Asana from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.27.

Insider Buying and Selling

In other news, insider Katie Marie Colendich sold 5,242 shares of Asana stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.68, for a total value of $35,016.56. Following the completion of the transaction, the insider owned 176,598 shares in the company, valued at approximately $1,179,674.64. The trade was a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel Mark Rogers sold 13,790 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $6.89, for a total value of $95,013.10. Following the transaction, the chief executive officer directly owned 1,891,990 shares in the company, valued at approximately $13,035,811.10. This represents a 0.72% 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 three months, insiders have sold 118,304 shares of company stock valued at $792,775. 61.28% of the stock is currently owned by company insiders.

Asana Company 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.