Franklin Resources Inc. Buys Shares of 56,605 Asana, Inc. $ASAN

Franklin Resources Inc. purchased a new position in shares of Asana, Inc. (NYSE:ASAN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,605 shares of the company’s stock, valued at approximately $764,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Asana by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company’s stock valued at $155,261,000 after acquiring an additional 475,100 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Asana by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company’s stock valued at $10,815,000 after purchasing an additional 47,480 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Asana by 2.6% during the first quarter. Deutsche Bank AG now owns 189,698 shares of the company’s stock valued at $2,764,000 after purchasing an additional 4,855 shares in the last quarter. Nuveen LLC bought a new stake in shares of Asana during the first quarter worth about $8,419,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Asana by 146.6% in the first quarter. Russell Investments Group Ltd. now owns 117,982 shares of the company’s stock valued at $1,727,000 after buying an additional 70,145 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Asana Trading Up 0.1%

ASAN opened at $14.17 on Monday. Asana, Inc. has a twelve month low of $11.58 and a twelve month high of $27.77. The company has a fifty day moving average of $13.55 and a 200-day moving average of $14.13. The stock has a market cap of $3.35 billion, a PE ratio of -15.24 and a beta of 0.93. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.19.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, December 2nd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Asana had a negative net margin of 28.33% and a negative return on equity of 79.80%. The business had revenue of $201.03 million for the quarter, compared to analysts’ expectations of $198.78 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Asana has set its FY 2026 guidance at 0.250-0.260 EPS and its Q4 2026 guidance at 0.070-0.070 EPS. On average, sell-side analysts predict that Asana, Inc. will post -1.09 EPS for the current year.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 13,701 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $14.95, for a total transaction of $204,829.95. Following the completion of the sale, the director owned 1,068,846 shares of the company’s stock, valued at $15,979,247.70. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 63,374 shares of Asana stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $14.38, for a total value of $911,318.12. Following the completion of the sale, the chief financial officer owned 1,076,693 shares of the company’s stock, valued at approximately $15,482,845.34. The trade was a 5.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,427,928 shares of company stock worth $36,497,981 in the last 90 days. Corporate insiders own 61.28% of the company’s stock.

Wall Street Analyst Weigh In

ASAN has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Asana from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Thursday, September 4th. Royal Bank Of Canada raised their price target on shares of Asana from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Wednesday. DA Davidson reduced their price objective on shares of Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler restated an “overweight” rating and issued a $19.00 price objective on shares of Asana in a report on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.19.

Asana Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.