Jupiter Asset Management Ltd. Has $18.85 Million Stake in Asana, Inc. $ASAN

Jupiter Asset Management Ltd. boosted its stake in shares of Asana, Inc. (NYSE:ASAN) by 705.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,374,891 shares of the company’s stock after purchasing an additional 1,204,232 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Asana were worth $18,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASAN. Marshall Wace LLP boosted its position in shares of Asana by 52.7% in the third quarter. Marshall Wace LLP now owns 1,963,599 shares of the company’s stock valued at $26,234,000 after acquiring an additional 678,016 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Asana by 11.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,648,910 shares of the company’s stock worth $62,109,000 after acquiring an additional 487,935 shares in the last quarter. Federated Hermes Inc. raised its stake in Asana by 1,162.2% during the third quarter. Federated Hermes Inc. now owns 413,331 shares of the company’s stock worth $5,522,000 after acquiring an additional 380,583 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Asana by 17.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,794,103 shares of the company’s stock worth $23,969,000 after acquiring an additional 263,251 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Asana by 167.8% in the third quarter. Verition Fund Management LLC now owns 286,239 shares of the company’s stock valued at $3,824,000 after buying an additional 179,348 shares during the period. 26.21% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $6.65, for a total value of $227,104.15. Following the sale, the chief financial officer directly owned 933,998 shares of the company’s stock, valued at approximately $6,211,086.70. This represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katie Marie Colendich sold 7,304 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total value of $54,195.68. Following the completion of the sale, the insider directly owned 108,214 shares in the company, valued at approximately $802,947.88. This represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 70,226 shares of company stock valued at $472,065. Company insiders own 61.28% of the company’s stock.

Key Asana News

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported first-quarter fiscal 2027 earnings and revenue that beat expectations, with EPS of $0.10 versus $0.08 expected and revenue of about $205.1 million, up 9.5% year over year. Asana Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: The company raised its outlook for Q2 and full-year fiscal 2027, with guidance coming in above Wall Street estimates, which suggests management is seeing improving momentum. Asana Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: Asana completed its acquisition of StackAI, a no-code AI workflow platform, reinforcing its push to become an AI-native workplace platform and potentially broadening future automation use cases. Asana Acquires StackAI, Adding Cross-System Execution for Human-Agent Teams
• Positive Sentiment: Several brokerages remained constructive, including Citizens JMP reiterating an outperform rating and Citigroup still rating the stock a buy, even after trimming its price target. Analyst rating updates
• Neutral Sentiment: Asana announced upcoming presentations at investor events, which could help keep the stock in focus but does not change fundamentals on its own. Asana to Present at Upcoming Investor Events
• Neutral Sentiment: Bearish analyst commentary also appeared, including Morgan Stanley cutting its target to $7 and maintaining an underweight rating, reflecting lingering concerns about valuation and growth durability. Morgan Stanley price target update

Asana Trading Up 15.3%

Shares of ASAN opened at $7.68 on Friday. The company has a market cap of $1.83 billion, a PE ratio of -11.13 and a beta of 0.95. The stock has a 50-day moving average price of $6.33 and a 200-day moving average price of $9.38. Asana, Inc. has a 12-month low of $5.38 and a 12-month high of $19.00.

Asana (NYSE:ASAN) last released 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. Asana had a negative return on equity of 69.20% and a negative net margin of 20.21%.The company had revenue of $205.10 million during the quarter, compared to the consensus estimate of $203.58 million. During the same quarter in the previous year, the company posted $0.05 EPS. Asana’s quarterly revenue was up 9.5% compared to the same quarter last year. 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 predict that Asana, Inc. will post -0.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ASAN. Wall Street Zen cut Asana from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 19th. Citigroup reiterated a “market outperform” rating on shares of Asana in a report on Friday. Robert W. Baird cut their target price on Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Piper Sandler reissued a “neutral” rating and issued a $7.00 price target (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.96.

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.