Asana (NYSE:ASAN) Stock Price Down 10.9% – Here’s What Happened

Asana, Inc. (NYSE:ASAN) was down 10.9% during trading on Wednesday . The stock traded as low as $7.31 and last traded at $7.3280. Approximately 3,523,580 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 4,588,631 shares. The stock had previously closed at $8.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ASAN shares. Piper Sandler cut their price target on shares of Asana from $19.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. DA Davidson dropped their target price on shares of Asana from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Citigroup raised Asana from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Thursday, January 15th. KeyCorp raised Asana from a “sector weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Asana in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Asana currently has an average rating of “Hold” and a consensus price target of $15.61.

Asana Trading Up 0.3%

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.40. The stock’s 50 day moving average is $12.00 and its 200-day moving average is $13.16. The company has a market capitalization of $1.79 billion, a P/E ratio of -8.12 and a beta of 0.95.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Asana had a negative return on equity of 79.80% and a negative net margin of 28.33%.The business had revenue of $201.03 million for the quarter, compared to analysts’ expectations of $198.78 million. During the same period in the previous year, the firm posted ($0.02) EPS. The business’s revenue was up 9.3% on a year-over-year basis. Asana has set its FY 2026 guidance at 0.250-0.260 EPS and its Q4 2026 guidance at 0.070-0.070 EPS. As a group, equities research analysts anticipate that Asana, Inc. will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Asana

In other news, CFO Sonalee Elizabeth Parekh sold 83,656 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $14.31, for a total transaction of $1,197,117.36. Following the sale, the chief financial officer owned 993,037 shares in the company, valued at approximately $14,210,359.47. The trade was a 7.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Anne Raimondi sold 76,093 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $14.47, for a total transaction of $1,101,065.71. Following the completion of the transaction, the chief operating officer owned 764,178 shares of the company’s stock, valued at approximately $11,057,655.66. The trade was a 9.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,127,448 shares of company stock valued at $16,825,400. 61.28% of the stock is currently owned by company insiders.

Institutional Trading of Asana

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Asana by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock valued at $707,000 after buying an additional 2,328 shares during the last quarter. Empowered Funds LLC lifted its position in Asana by 40.9% in the 1st quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock valued at $371,000 after acquiring an additional 7,381 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Asana by 14.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company’s stock valued at $3,770,000 after purchasing an additional 32,708 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Asana in the 2nd quarter worth $649,000. Finally, Bogart Wealth LLC purchased a new position in shares of Asana in the second quarter worth $27,000. 26.21% of the stock is currently owned by institutional investors.

About Asana

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.