Asana (NYSE:ASAN) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Asana (NYSE:ASAN) posted its quarterly earnings results on Monday. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01, FiscalAI reports. The firm had revenue of $205.57 million for the quarter, compared to analyst estimates of $205.13 million. Asana had a negative return on equity of 79.80% and a negative net margin of 28.33%.

Asana Price Performance

NYSE ASAN traded up $0.21 during trading hours on Monday, reaching $7.31. The company’s stock had a trading volume of 9,024,104 shares, compared to its average volume of 5,312,606. Asana has a 1-year low of $6.51 and a 1-year high of $19.56. The company’s 50-day moving average is $10.55 and its two-hundred day moving average is $12.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -7.86 and a beta of 1.01.

Analyst Ratings Changes

A number of equities analysts have issued reports on ASAN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Asana in a report on Monday, December 29th. Jefferies Financial Group cut their price target on shares of Asana from $15.00 to $8.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. DA Davidson dropped their price objective on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Royal Bank Of Canada lowered their price target on Asana from $14.00 to $11.00 and set an “underperform” rating on the stock in a research report on Monday, January 5th. Finally, KeyCorp raised shares of Asana from a “sector weight” rating to an “overweight” rating and set a $18.00 price target on the stock in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.96.

Insider Buying and Selling at Asana

In other Asana news, Director Justin Rosenstein sold 850,233 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $15.12, for a total value of $12,855,522.96. Following the completion of the transaction, the director directly owned 210,398 shares of the company’s stock, valued at approximately $3,181,217.76. This trade represents a 80.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 24,888 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $13.54, for a total value of $336,983.52. Following the transaction, the chief financial officer owned 968,149 shares in the company, valued at $13,108,737.46. This trade represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,127,448 shares of company stock worth $16,825,400 over the last three months. Insiders own 61.28% of the company’s stock.

Institutional Trading of Asana

Hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Asana during the 4th quarter valued at $50,000. 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 worth $59,000 after acquiring an additional 1,706 shares during the period. Headlands Technologies LLC bought a new stake in Asana in the 2nd quarter valued at $90,000. Creative Planning bought a new stake in Asana in the 3rd quarter valued at $141,000. Finally, Renaissance Technologies LLC bought a new position in shares of Asana during the fourth quarter valued at $146,000. Institutional investors own 26.21% of the company’s stock.

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.