Asana (NYSE:ASAN) Shares Up 7.7% – Here’s What Happened

Shares of Asana, Inc. (NYSE:ASAN) shot up 7.7% during mid-day trading on Tuesday . The company traded as high as $7.14 and last traded at $7.0880. 1,596,821 shares were traded during mid-day trading, a decline of 68% from the average session volume of 4,981,376 shares. The stock had previously closed at $6.58.

Analysts Set New Price Targets

A number of brokerages have issued reports on ASAN. Royal Bank Of Canada reduced their price target on Asana from $14.00 to $11.00 and set an “underperform” rating for the company in a research report on Monday, January 5th. Piper Sandler cut their price objective on shares of Asana from $19.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Citigroup upgraded shares of Asana from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Thursday, January 15th. UBS Group dropped their price target on shares of Asana from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Finally, BTIG Research assumed coverage on shares of Asana in a report on Tuesday, December 16th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Asana has a consensus rating of “Hold” and a consensus target price of $14.96.

Asana Stock Performance

The company’s 50-day moving average price is $11.13 and its two-hundred day moving average price is $12.84. The company has a market cap of $1.69 billion, a P/E ratio of -7.66 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.19.

Asana (NYSE:ASAN) last released its earnings results on Tuesday, December 2nd. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $201.03 million during the quarter, compared to analyst estimates of $198.78 million. Asana had a negative net margin of 28.33% and a negative return on equity of 79.80%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) earnings per share. Asana has set its FY 2026 guidance at 0.250-0.260 EPS and its Q4 2026 guidance at 0.070-0.070 EPS. As a group, equities analysts forecast that Asana, Inc. will post -1.09 earnings per share for the current year.

Insider Transactions at Asana

In related news, Director Justin Rosenstein sold 850,233 shares of Asana stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $15.12, for a total value of $12,855,522.96. Following the transaction, the director 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 62,165 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $14.31, for a total transaction of $889,581.15. Following the sale, the chief operating officer directly owned 702,013 shares of the company’s stock, valued at $10,045,806.03. This represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,127,448 shares of company stock valued at $16,825,400 over the last three months. Company insiders own 61.28% of the company’s stock.

Hedge Funds Weigh In On Asana

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Asana by 18.3% during the fourth quarter. Invesco Ltd. now owns 106,753 shares of the company’s stock worth $1,464,000 after purchasing an additional 16,500 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Asana during the 4th quarter valued at $211,000. XTX Topco Ltd grew its holdings in shares of Asana by 213.4% during the 4th quarter. XTX Topco Ltd now owns 235,451 shares of the company’s stock valued at $3,228,000 after acquiring an additional 160,329 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Asana by 663.4% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 109,178 shares of the company’s stock worth $1,497,000 after acquiring an additional 94,876 shares during the last quarter. Finally, Occudo Quantitative Strategies LP raised its holdings in shares of Asana by 76.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 156,282 shares of the company’s stock worth $2,143,000 after acquiring an additional 67,560 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.