Asana, Inc. (NYSE:ASAN) Stock Rated “Hold” by Wall Street Brokerages

Asana, Inc. (NYSE:ASAN) has received an average rating of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.95.

ASAN has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a report on Tuesday, November 3rd. Citigroup reiterated a “market outperform” rating on shares of Asana in a report on Monday, August 24th. BTIG Research reiterated a “neutral” rating on shares of Asana in a research note on Friday, September 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a report on Friday, September 4th.

Asana Price Performance

Asana stock opened at $9.59 on Wednesday. Asana has a 1-year low of $5.38 and a 1-year high of $15.28. The company has a market cap of $2.20 billion, a PE ratio of -14.53 and a beta of 0.99. The stock’s 50 day moving average price is $9.95 and its 200 day moving average price is $8.14.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $216.43 million for the quarter, compared to analyst estimates of $214.15 million. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%. Asana’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $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 anticipate that Asana will post -0.53 EPS for the current fiscal year.

Insider Activity

In other news, CFO Aziz Megji sold 3,224 shares of the business’s 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. The trade was a 0.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Rogers sold 19,676 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $11.52, for a total value of $226,667.52. Following the sale, the chief executive officer directly owned 1,437,022 shares in the company, valued at $16,554,493.44. This trade represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 551,360 shares of company stock worth $5,239,118. Company insiders own 87.54% of the company’s stock.

Institutional Trading of Asana

Several large investors have recently bought and sold shares of the company. Private Advisor Group LLC acquired a new position in shares of Asana during the 3rd quarter worth $99,000. Focus Advisor Solutions LLC grew its stake in Asana by 66.4% in the 3rd quarter. Focus Advisor Solutions LLC now owns 28,759 shares of the company’s stock valued at $242,000 after acquiring an additional 11,479 shares during the last quarter. Voya Investment Management LLC grew its stake in Asana by 2.3% in the 3rd quarter. Voya Investment Management LLC now owns 4,833,361 shares of the company’s stock valued at $40,745,000 after acquiring an additional 108,829 shares during the last quarter. Fulcrum Asset Management LLP grew its stake in Asana by 38,814.3% in the 3rd quarter. Fulcrum Asset Management LLP now owns 81,720 shares of the company’s stock valued at $673,000 after acquiring an additional 81,510 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in Asana by 135.7% during the 3rd quarter. Brighton Jones LLC now owns 86,116 shares of the company’s stock valued at $726,000 after acquiring an additional 49,575 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

About Asana

Asana, Inc. develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform provides tools for assigning work, setting deadlines, tracking progress and sharing updates across teams. Organizations can use Asana to manage projects and recurring processes, align work with broader goals, and connect workflows with other business applications. The company also offers features designed to help teams automate work and use artificial intelligence within their workflows.