Asana (NYSE:ASAN) Stock Price Up 5.1% – Time to Buy?

Asana, Inc. (NYSE:ASAN) shares traded up 5.1% during mid-day trading on Thursday. The company traded as high as $8.92 and last traded at $8.86. Approximately 430,182 shares changed hands during trading, a decline of 93% from the average daily volume of 6,188,281 shares. The stock had previously closed at $8.43.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of research analyst reports. Citizens Jmp reissued a “market outperform” rating and issued a $15.00 target price on shares of Asana in a research note on Friday, September 4th. UBS Group lifted their price target on shares of Asana from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Zacks Research cut Asana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Piper Sandler raised their target price on shares of Asana from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a research report on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.95.

Asana Price Performance

The firm has a market capitalization of $2.04 billion, a P/E ratio of -13.47 and a beta of 0.95. The business’s 50-day moving average is $9.05 and its 200 day moving average is $7.59.

Asana (NYSE:ASAN) last posted its quarterly earnings data 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. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm had revenue of $216.43 million during the quarter, compared to the consensus estimate of $214.15 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. Analysts anticipate that Asana, Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Aziz Megji sold 3,224 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $9.26, for a total transaction of $29,854.24. Following the sale, the chief financial officer owned 726,721 shares of the company’s stock, valued at $6,729,436.46. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Katie Colendich sold 8,474 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $9.77, for a total value of $82,790.98. Following the sale, the insider owned 161,689 shares of the company’s stock, valued at approximately $1,579,701.53. The trade was a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 507,345 shares of company stock valued at $4,776,869 over the last 90 days. 87.54% of the stock is owned by corporate insiders.

Institutional Trading of Asana

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its position in Asana by 13.9% in the first quarter. Blue Trust Inc. now owns 33,716 shares of the company’s stock valued at $216,000 after acquiring an additional 4,117 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Asana by 20.3% in the 2nd quarter. 180 Wealth Advisors LLC now owns 27,637 shares of the company’s stock valued at $193,000 after purchasing an additional 4,655 shares in the last quarter. Performa Ltd US LLC boosted its stake in shares of Asana by 335.1% in the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after purchasing an additional 4,775 shares in the last quarter. Optiver Holding B.V. grew its holdings in shares of Asana by 2,008.8% during the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after purchasing an additional 5,002 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Asana during the 1st quarter valued at approximately $53,000. 26.21% of the stock is currently 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.