Asana, Inc. $ASAN Holdings Lifted by Royal Bank of Canada

Royal Bank of Canada raised its position in Asana, Inc. (NYSE:ASAN) by 2,925.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,634 shares of the company’s stock after purchasing an additional 174,663 shares during the quarter. Royal Bank of Canada’s holdings in Asana were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its position in shares of Asana by 37.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock worth $45,979,000 after buying an additional 1,969,657 shares during the period. Jupiter Asset Management Ltd. increased its position in Asana by 705.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after acquiring an additional 1,204,232 shares during the period. Goldman Sachs Group Inc. increased its position in Asana by 53.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after acquiring an additional 977,107 shares during the period. Marshall Wace LLP raised its stake in Asana by 35.1% during the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock valued at $36,375,000 after acquiring an additional 689,546 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Asana by 94.7% during the 4th quarter. Federated Hermes Inc. now owns 804,743 shares of the company’s stock valued at $11,033,000 after acquiring an additional 391,412 shares in the last quarter. Institutional investors own 26.21% of the company’s stock.

Asana Price Performance

ASAN opened at $9.47 on Friday. The business has a 50 day moving average price of $7.81 and a two-hundred day moving average price of $7.26. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -13.72 and a beta of 0.93. Asana, Inc. has a 1-year low of $5.38 and a 1-year high of $15.71.

Asana (NYSE:ASAN) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $203.58 million. During the same period last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter 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. Equities analysts expect that Asana, Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at Asana

In other Asana news, CFO Aziz Megji sold 31,696 shares of the business’s 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 in the company, valued at approximately $5,185,662.48. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Veronica Sosa sold 11,378 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $75,777.48. Following the completion of the sale, the chief accounting officer directly owned 62,344 shares of the company’s stock, valued at $415,211.04. The trade was a 15.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 118,304 shares of company stock worth $792,775. Corporate insiders own 87.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. DA Davidson reissued a “neutral” rating and issued a $8.00 price target on shares of Asana in a research note on Friday, May 29th. Royal Bank Of Canada lifted their price objective on shares of Asana from $7.00 to $8.00 and gave the company a “sector perform” rating in a research note on Friday, May 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a report on Wednesday, August 5th. Zacks Research raised shares of Asana from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Citigroup reissued a “market outperform” rating on shares of Asana in a research note on Friday, May 29th. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.27.

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.