Renaissance Technologies LLC Has $601,000 Holdings in Asana, Inc. $ASAN

Renaissance Technologies LLC lifted its holdings in shares of Asana, Inc. (NYSE:ASAN) by 783.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,939 shares of the company’s stock after purchasing an additional 83,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Asana were worth $601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Performa Ltd US LLC grew its position in Asana by 335.1% during the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock worth $40,000 after buying an additional 4,775 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Asana during the 4th quarter worth $50,000. Summit Securities Group LLC bought a new position in Asana during the 1st quarter worth $53,000. Daiwa Securities Group Inc. raised its holdings in Asana by 64.0% in the 2nd 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, Headlands Technologies LLC acquired a new position in Asana in the 2nd quarter valued at $90,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ASAN has been the subject of a number of recent analyst reports. Citigroup reiterated a “market outperform” rating on shares of Asana in a research report on Friday, May 29th. Royal Bank Of Canada boosted their price target on Asana from $7.00 to $8.00 and gave the company a “sector perform” rating in a research note on Friday, May 29th. Wall Street Zen downgraded Asana from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research raised shares of Asana from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, UBS Group reiterated a “neutral” rating and set a $8.00 price objective 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 issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.27.

Asana Price Performance

Shares of ASAN opened at $9.15 on Monday. The firm has a 50 day simple moving average of $7.68 and a two-hundred day simple moving average of $7.30. Asana, Inc. has a one year low of $5.38 and a one year high of $15.71. The company has a market cap of $2.11 billion, a P/E ratio of -13.26 and a beta of 0.93.

Asana (NYSE:ASAN) last issued its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $205.09 million for the quarter, compared to the consensus estimate of $203.58 million. During the same quarter last year, the business posted $0.05 EPS. The company’s 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. On average, analysts expect that Asana, Inc. will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asana news, CFO Aziz Megji sold 13,239 shares of Asana stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $6.73, for a total value of $89,098.47. Following the transaction, the chief financial officer owned 765,389 shares in the company, valued at $5,151,067.97. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Marie Colendich sold 5,242 shares of Asana stock in a transaction dated Friday, June 26th. The shares were 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. This represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 118,304 shares of company stock valued at $792,775. 87.54% of the stock is owned by corporate insiders.

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.