Asana (NYSE:ASAN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Asana (NYSE:ASAN) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

ASAN has been the topic of a number of other reports. Citizens Jmp reissued a “market outperform” rating and issued a $15.00 price objective on shares of Asana in a research note on Friday, September 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research report on Wednesday, August 5th. BTIG Research reaffirmed a “neutral” rating on shares of Asana in a research report on Friday, September 4th. Morgan Stanley reduced their target price on shares of Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday, May 29th. Finally, Robert W. Baird lifted their target price on Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Asana presently has a consensus rating of “Hold” and a consensus price target of $9.95.

Asana Trading Down 3.8%

ASAN opened at $8.68 on Friday. The stock has a fifty day moving average price of $9.00 and a 200 day moving average price of $7.57. Asana has a 1 year low of $5.38 and a 1 year high of $15.48. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -13.14 and a beta of 0.95.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $216.43 million during the quarter, compared to the consensus estimate of $214.15 million. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%.The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. As a group, sell-side analysts forecast that Asana will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other news, CEO Daniel Rogers sold 150,175 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $9.13, for a total transaction of $1,371,097.75. Following the completion of the transaction, the chief executive officer directly owned 1,474,719 shares of the company’s stock, valued at approximately $13,464,184.47. This trade represents a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Colendich sold 8,474 shares of Asana stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $9.77, for a total transaction of $82,790.98. Following the sale, the insider owned 161,689 shares in the company, valued at approximately $1,579,701.53. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 507,345 shares of company stock valued at $4,776,869 in the last 90 days. 87.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. raised its holdings in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock worth $34,000 after buying an additional 5,002 shares in the last quarter. Performa Ltd US LLC boosted its stake in Asana by 335.1% in the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after buying an additional 4,775 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Asana in the 1st quarter valued at $53,000. HB Wealth Management LLC bought a new stake in Asana in the second quarter valued at $71,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Asana in the second quarter valued at $88,000. 26.21% of the stock is owned by institutional investors and hedge funds.

About Asana

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana’s products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.