Asana, Inc. (NYSE:ASAN – Get Free Report)’s share price gapped up prior to trading on Monday . The stock had previously closed at $8.77, but opened at $9.18. Asana shares last traded at $9.2640, with a volume of 639,209 shares.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Citigroup reiterated a “market outperform” rating on shares of Asana in a research report on Monday, August 24th. DA Davidson boosted their price objective on Asana from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. BTIG Research reissued a “neutral” rating on shares of Asana in a report on Friday, September 4th. Royal Bank Of Canada raised their target price on shares of Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a research note on Friday, September 4th. Finally, Robert W. Baird lifted their price target on shares of Asana from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.95.
View Our Latest Stock Report on Asana
Asana Trading Up 6.8%
Asana (NYSE:ASAN – Get Free Report) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $216.43 million for 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 revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. On average, equities research analysts expect that Asana, Inc. will post -0.53 EPS for the current year.
Insider Activity at Asana
In related news, CFO Aziz Megji sold 31,696 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $211,095.36. Following the completion of the transaction, the chief financial officer owned 778,628 shares in the company, valued at approximately $5,185,662.48. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Veronica Sosa sold 11,378 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $75,777.48. Following the transaction, the chief accounting officer directly owned 62,344 shares of the company’s stock, valued at $415,211.04. The trade was a 15.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 119,959 shares of company stock worth $809,325 over the last ninety days. 87.54% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Asana
A number of hedge funds have recently made changes to their positions in the company. Jupiter Asset Management Ltd. grew its holdings in Asana by 705.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after buying an additional 1,204,232 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Asana by 92.6% during the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock worth $14,318,000 after acquiring an additional 1,075,572 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Asana by 250.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 532,796 shares of the company’s stock worth $3,410,000 after acquiring an additional 380,741 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Asana during the 1st quarter valued at approximately $1,016,000. Finally, Royal Bank of Canada boosted its position in shares of Asana by 2,925.2% during the 1st quarter. Royal Bank of Canada now owns 180,634 shares of the company’s stock valued at $1,157,000 after acquiring an additional 174,663 shares during the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.
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.
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