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

Asana, Inc. (NYSE:ASAN) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.95.

Several research analysts have weighed in on ASAN shares. UBS Group reiterated a “neutral” rating on shares of Asana in a report on Friday. Robert W. Baird raised their price objective on Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. DA Davidson lifted their price objective on Asana from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. BTIG Research reaffirmed a “neutral” rating on shares of Asana in a research report on Friday, September 4th. Finally, Citigroup reiterated a “market outperform” rating on shares of Asana in a research note on Monday, August 24th.

Insider Activity

In other Asana news, CFO Aziz Megji sold 35,444 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $9.53, for a total transaction of $337,781.32. Following the sale, the chief financial officer owned 729,945 shares in the company, valued at $6,956,375.85. This represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Rogers sold 300,937 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $9.53, for a total value of $2,867,929.61. Following the sale, the chief executive officer directly owned 1,624,894 shares in the company, valued at approximately $15,485,239.82. This represents a 15.63% 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 have sold 531,684 shares of company stock valued at $5,012,451 in the last three months. Corporate insiders own 87.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Retirement Planning Co of New England Inc. increased its position in Asana by 7.6% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 30,994 shares of the company’s stock valued at $261,000 after acquiring an additional 2,187 shares during the period. Versant Capital Management Inc raised its stake in Asana by 39.7% during the 3rd quarter. Versant Capital Management Inc now owns 8,443 shares of the company’s stock valued at $71,000 after acquiring an additional 2,401 shares in the last quarter. Blue Trust Inc. boosted its position in Asana by 13.9% during the 1st quarter. Blue Trust Inc. now owns 33,716 shares of the company’s stock worth $216,000 after acquiring an additional 4,117 shares during the period. 180 Wealth Advisors LLC boosted its position in Asana by 20.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 27,637 shares of the company’s stock worth $193,000 after acquiring an additional 4,655 shares during the period. Finally, Performa Ltd US LLC boosted its position in Asana by 335.1% during the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock worth $40,000 after acquiring an additional 4,775 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Asana Stock Down 5.1%

Shares of NYSE ASAN traded down $0.53 during midday trading on Friday, hitting $9.89. The company had a trading volume of 5,421,424 shares, compared to its average volume of 6,542,181. Asana has a twelve month low of $5.38 and a twelve month high of $15.28. The business has a 50-day simple moving average of $9.39 and a two-hundred day simple moving average of $7.84. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -14.98 and a beta of 1.19.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company 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 revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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 analysts forecast that Asana will post -0.53 EPS for the current year.

About Asana

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks, goals and business processes. Its platform provides tools for assigning and tracking work, managing timelines and dependencies, communicating about projects, and monitoring progress across teams and departments.

Asana’s products support a range of use cases, including project and portfolio management, workflow automation, strategic planning, marketing campaigns, product development and employee onboarding.