Renaissance Technologies LLC Buys 83,300 Shares of Asana, Inc. $ASAN

Renaissance Technologies LLC grew its stake in shares of Asana, Inc. (NYSE:ASAN) by 783.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 93,939 shares of the company’s stock after acquiring an additional 83,300 shares during the period. Renaissance Technologies LLC’s holdings in Asana were worth $601,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vident Advisory LLC lifted its stake in shares of Asana by 4.3% in the 3rd quarter. Vident Advisory LLC now owns 22,527 shares of the company’s stock valued at $301,000 after acquiring an additional 930 shares during the last quarter. ProShare Advisors LLC grew its position in Asana by 7.8% during the 4th 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 position in Asana by 64.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after acquiring an additional 1,706 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Asana by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock worth $707,000 after purchasing an additional 2,328 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Asana by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,327 shares of the company’s stock worth $706,000 after purchasing an additional 2,373 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Asana news, CEO Daniel Mark Rogers sold 13,790 shares of the firm’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 transaction of $95,013.10. Following the completion of the transaction, the chief executive officer owned 1,891,990 shares in the company, valued at approximately $13,035,811.10. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aziz Megji sold 13,239 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $6.73, for a total transaction of $89,098.47. Following the transaction, the chief financial officer owned 765,389 shares of the company’s stock, valued at approximately $5,151,067.97. The trade was a 1.70% 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. Over the last three months, insiders have sold 118,304 shares of company stock valued at $792,775. Insiders own 87.54% of the company’s stock.

Asana Trading Up 0.1%

Shares of ASAN opened at $9.15 on Monday. The company has a market capitalization of $2.11 billion, a PE ratio of -13.26 and a beta of 0.93. Asana, Inc. has a 12 month low of $5.38 and a 12 month high of $15.71. The stock’s 50-day moving average price is $7.68 and its two-hundred day moving average price is $7.30.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $205.09 million during the quarter, compared to analysts’ expectations of $203.58 million. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm 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. Equities research analysts predict that Asana, Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group reiterated a “neutral” rating and issued a $8.00 target price on shares of Asana in a research report on Friday, May 29th. KeyCorp lowered their price objective on Asana from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Morgan Stanley dropped their price objective on shares of Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, May 29th. Royal Bank Of Canada lifted their target price on shares of Asana from $7.00 to $8.00 and gave the stock a “sector perform” rating in a research report on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.