Entropy Technologies LP Invests $578,000 in Asana, Inc. $ASAN

Entropy Technologies LP acquired a new stake in Asana, Inc. (NYSE:ASAN) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 90,344 shares of the company’s stock, valued at approximately $578,000.

Other hedge funds also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Asana in the 1st quarter worth approximately $1,016,000. Renaissance Technologies LLC grew its position in shares of Asana by 783.0% during the 1st quarter. Renaissance Technologies LLC now owns 93,939 shares of the company’s stock valued at $601,000 after purchasing an additional 83,300 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Asana by 37.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock worth $45,979,000 after purchasing an additional 1,969,657 shares during the period. Inceptionr LLC increased its holdings in shares of Asana by 117.5% in the first quarter. Inceptionr LLC now owns 37,430 shares of the company’s stock worth $240,000 after purchasing an additional 20,223 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Asana by 12.9% in the first quarter. First Trust Advisors LP now owns 1,988,739 shares of the company’s stock worth $12,728,000 after buying an additional 227,204 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Insider Transactions at Asana

In other news, insider Katie Marie Colendich sold 5,242 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $6.68, for a total value of $35,016.56. Following the completion of the transaction, the insider directly owned 176,598 shares in the company, valued at approximately $1,179,674.64. This represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aziz Megji sold 13,239 shares of the stock in a transaction dated Wednesday, June 24th. The shares were 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. This trade represents a 1.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 118,304 shares of company stock worth $792,775. 61.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. DA Davidson reissued a “neutral” rating and set a $8.00 price objective on shares of Asana in a research note on Friday, May 29th. Wall Street Zen lowered Asana from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $7.00 price target (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Citizens Jmp reiterated a “market outperform” rating and set a $15.00 price target on shares of Asana in a research report on Tuesday, July 7th. Finally, UBS Group reissued a “neutral” rating and set a $8.00 price objective on shares of Asana in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.27.

Asana Stock Performance

Asana stock opened at $8.51 on Thursday. Asana, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $15.71. The stock has a market cap of $1.96 billion, a P/E ratio of -12.33 and a beta of 0.97. The firm’s fifty day moving average price is $7.32 and its 200-day moving average price is $7.52.

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

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.