Whetstone Capital Advisors LLC Cuts Stock Position in Asana, Inc. $ASAN

Whetstone Capital Advisors LLC lessened its position in shares of Asana, Inc. (NYSE:ASAN) by 72.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 105,100 shares of the company’s stock after selling 276,616 shares during the period. Whetstone Capital Advisors LLC’s holdings in Asana were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ASAN. Integrated Wealth Concepts LLC acquired a new position in shares of Asana during the second quarter worth $164,000. Squarepoint Ops LLC grew its stake in Asana by 108.3% during the 2nd quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock worth $6,217,000 after buying an additional 461,858 shares during the last quarter. Allworth Financial LP grew its stake in Asana by 193.4% during the 2nd quarter. Allworth Financial LP now owns 13,195 shares of the company’s stock worth $92,000 after buying an additional 8,698 shares during the last quarter. Corient Private Wealth LP acquired a new position in Asana during the 2nd quarter valued at about $451,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Asana during the 2nd quarter valued at about $415,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ASAN shares. Zacks Research downgraded Asana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Piper Sandler upped their price objective on shares of Asana from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Barclays lowered shares of Asana to an “outperform” rating in a research report on Monday, August 24th. Royal Bank Of Canada boosted their target price on shares of Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a research report on Friday, September 4th. Finally, Robert W. Baird upped their price target on shares of Asana from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Asana currently has an average rating of “Hold” and a consensus target price of $9.95.

Asana Stock Performance

Shares of ASAN opened at $8.26 on Thursday. The stock has a 50-day moving average of $8.52 and a two-hundred day moving average of $7.39. The stock has a market cap of $1.90 billion, a P/E ratio of -12.52 and a beta of 0.95. Asana, Inc. has a one year low of $5.38 and a one year high of $15.48.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%.The business had revenue of $216.43 million for the quarter, compared to analyst estimates of $214.15 million. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. Analysts predict that Asana, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, CFO Aziz Megji sold 31,696 shares of Asana stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $211,095.36. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Rogers sold 26,975 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $179,653.50. Following the completion of the sale, the chief executive officer directly owned 1,905,780 shares in the company, valued at $12,692,494.80. This trade represents a 1.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 119,959 shares of company stock valued at $809,325. 87.54% of the stock is owned by corporate 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.