Asana, Inc. (NYSE:ASAN – Get Free Report)’s stock price fell 6.4% during mid-day trading on Tuesday. The stock traded as low as $8.09 and last traded at $8.0850. 3,868,327 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 6,189,369 shares. The stock had previously closed at $8.64.
Analysts Set New Price Targets
A number of analysts have recently issued reports on ASAN shares. Citigroup reaffirmed a “market outperform” rating on shares of Asana in a research report on Monday, August 24th. Barclays downgraded shares of Asana to an “outperform” rating in a report on Monday, August 24th. Robert W. Baird lifted their target price on shares of Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. DA Davidson raised their price objective on shares of Asana from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Asana presently has a consensus rating of “Hold” and a consensus target price of $9.95.
View Our Latest Report on ASAN
Asana Trading Up 4.9%
Asana (NYSE:ASAN – Get Free Report) last released its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $216.43 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company 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. On average, equities analysts predict that Asana, Inc. will post -0.53 EPS for the current year.
Insider Transactions at Asana
In related news, CFO Aziz Megji sold 3,224 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $9.26, for a total value of $29,854.24. Following the completion of the sale, the chief financial officer directly owned 726,721 shares of the company’s stock, valued at approximately $6,729,436.46. This represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction, the chief executive officer directly owned 1,474,719 shares in the company, valued at $13,464,184.47. The trade was a 9.24% 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 sold a total of 507,345 shares of company stock valued at $4,776,869 over the last ninety days. 87.54% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Asana
Several institutional investors and hedge funds have recently bought and sold shares of ASAN. Sequoia Financial Advisors LLC purchased a new stake in Asana in the second quarter worth $88,000. Integrated Wealth Concepts LLC bought a new position in shares of Asana during the 2nd quarter worth $164,000. Squarepoint Ops LLC grew its stake in shares of Asana by 108.3% during the 2nd quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock worth $6,217,000 after acquiring an additional 461,858 shares during the period. Allworth Financial LP increased its holdings in Asana by 193.4% in the 2nd quarter. Allworth Financial LP now owns 13,195 shares of the company’s stock worth $92,000 after acquiring an additional 8,698 shares during the last quarter. Finally, Corient Private Wealth LP purchased a new stake in Asana in the 2nd quarter worth about $451,000. 26.21% of the stock is owned by 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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