Asana (NYSE:ASAN) Raised to “Strong-Buy” at Wall Street Zen

Asana (NYSE:ASAN) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also commented on ASAN. Jefferies Financial Group lowered their price objective on shares of Asana from $15.00 to $8.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Asana in a research report on Monday, December 29th. HSBC set a $8.00 price objective on shares of Asana in a research report on Friday, February 13th. BTIG Research assumed coverage on shares of Asana in a research report on Tuesday, December 16th. They set a “neutral” rating for the company. Finally, Morgan Stanley lowered their price objective on Asana from $14.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.46.

Asana Trading Down 0.1%

Shares of Asana stock opened at $5.46 on Friday. The stock has a 50 day moving average of $7.15 and a 200 day moving average of $11.12. Asana has a 12 month low of $5.41 and a 12 month high of $19.00. The firm has a market cap of $1.30 billion, a PE ratio of -6.82 and a beta of 1.08.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The company had revenue of $205.57 million during the quarter, compared to analyst estimates of $205.13 million. Asana’s revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts forecast that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Transactions at Asana

In other news, CAO Veronica Sosa sold 6,479 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $43,085.35. Following the completion of the sale, the chief accounting officer owned 73,722 shares in the company, valued at approximately $490,251.30. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katie Marie Colendich sold 7,304 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the sale, the insider owned 108,214 shares of the company’s stock, valued at $802,947.88. This trade represents a 6.32% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 70,226 shares of company stock worth $472,065. 61.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Asana

Several institutional investors have recently made changes to their positions in ASAN. Jupiter Asset Management Ltd. lifted its holdings in shares of Asana by 705.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after acquiring an additional 1,204,232 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Asana by 53.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock worth $38,277,000 after acquiring an additional 977,107 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Asana by 35.1% during the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock worth $36,375,000 after acquiring an additional 689,546 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Asana by 12.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,214,591 shares of the company’s stock worth $71,492,000 after acquiring an additional 565,681 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Asana by 94.7% during the 4th quarter. Federated Hermes Inc. now owns 804,743 shares of the company’s stock worth $11,033,000 after acquiring an additional 391,412 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

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.