Asana (NYSE:ASAN) Shares Down 8.2% – Here’s Why

Asana, Inc. (NYSE:ASAN) was down 8.2% during trading on Thursday . The company traded as low as $7.81 and last traded at $7.8160. 780,992 shares traded hands during trading, a decline of 87% from the average daily volume of 6,047,854 shares. The stock had previously closed at $8.51.

Analysts Set New Price Targets

Several brokerages have recently commented on ASAN. Citizens Jmp restated a “market outperform” rating and set a $15.00 price objective on shares of Asana in a research report on Tuesday, July 7th. Wall Street Zen cut Asana from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. DA Davidson reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Asana in a research note on Friday, May 29th. KeyCorp decreased their target price on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Finally, Zacks Research raised Asana from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.27.

Asana Trading Up 4.6%

The firm’s 50 day simple moving average is $7.39 and its 200 day simple moving average is $7.49. The firm has a market cap of $1.92 billion, a PE ratio of -12.05 and a beta of 0.97.

Asana (NYSE:ASAN) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $203.58 million. During the same quarter last year, the business posted $0.05 earnings per share. The business’s quarterly 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. As a group, equities research analysts predict that Asana, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Asana

In other news, CAO Veronica Sosa sold 11,378 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $75,777.48. Following the sale, the chief accounting officer directly owned 62,344 shares of the company’s stock, valued at $415,211.04. This represents a 15.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katie Marie Colendich sold 8,337 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $6.74, for a total value of $56,191.38. Following the transaction, the insider owned 181,840 shares of the company’s stock, valued at $1,225,601.60. This represents a 4.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 118,304 shares of company stock worth $792,775. 61.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asana

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Asana by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock valued at $707,000 after purchasing an additional 2,328 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Asana by 40.9% in the 1st quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock worth $371,000 after buying an additional 7,381 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Asana by 14.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company’s stock worth $3,770,000 after buying an additional 32,708 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Asana in the 2nd quarter worth about $158,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Asana during the 2nd quarter valued at about $160,000. Institutional investors own 26.21% of the company’s stock.

About Asana

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.