Asana, Inc. (NYSE:ASAN) Receives Average Rating of “Hold” from Analysts

Shares of Asana, Inc. (NYSE:ASAN) have been given an average recommendation of “Hold” by the fourteen brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $9.95.

A number of analysts recently commented on ASAN shares. Robert W. Baird increased their price target on Asana from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Citizens Jmp restated a “market outperform” rating and issued a $15.00 price objective on shares of Asana in a research note on Friday, September 4th. BTIG Research reaffirmed a “neutral” rating on shares of Asana in a research report on Friday, September 4th. DA Davidson lifted their target price on Asana from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a report on Wednesday, August 5th.

Insider Buying and Selling at Asana

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

Institutional Investors Weigh In On Asana

Large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its position in Asana by 37.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock valued at $45,979,000 after buying an additional 1,969,657 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Asana by 705.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after acquiring an additional 1,204,232 shares during the last quarter. Bank of America Corp DE increased its position in shares of Asana by 92.6% during the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after acquiring an additional 1,075,572 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Asana by 108.3% in the 2nd quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock valued at $6,217,000 after acquiring an additional 461,858 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Asana by 250.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 532,796 shares of the company’s stock valued at $3,410,000 after acquiring an additional 380,741 shares during the period. Institutional investors own 26.21% of the company’s stock.

Asana Stock Performance

ASAN stock opened at $8.68 on Tuesday. The stock’s 50 day simple moving average is $9.00 and its 200 day simple moving average is $7.57. The company has a market cap of $1.99 billion, a P/E ratio of -13.14 and a beta of 0.95. Asana has a fifty-two week low of $5.38 and a fifty-two week high of $15.48.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. Asana’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. Equities analysts predict that Asana will post -0.53 earnings per share for the current year.

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.