Asana (NYSE:ASAN) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Asana (NYSE:ASAN) from a buy rating to a hold rating in a research report report published on Saturday.

Several other research firms have also recently commented on ASAN. Piper Sandler reissued an “overweight” rating and set a $19.00 target price on shares of Asana in a research note on Thursday, September 4th. Robert W. Baird upped their price target on shares of Asana from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a research note on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on Asana from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Asana has an average rating of “Hold” and a consensus price target of $16.10.

Asana Stock Performance

ASAN opened at $13.31 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $13.99 and its 200-day moving average is $14.72. The stock has a market cap of $3.14 billion, a PE ratio of -14.95 and a beta of 1.05. Asana has a twelve month low of $11.58 and a twelve month high of $27.77.

Asana (NYSE:ASAN) last posted its earnings results on Wednesday, September 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.25). The business had revenue of $196.94 million during the quarter, compared to analyst estimates of $193.01 million. Asana had a negative net margin of 27.50% and a negative return on equity of 83.88%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. On average, analysts predict that Asana will post -1.09 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 28,026 shares of Asana stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $14.17, for a total value of $397,128.42. Following the transaction, the chief operating officer owned 862,469 shares of the company’s stock, valued at approximately $12,221,185.73. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sonalee Elizabeth Parekh sold 63,374 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $14.38, for a total transaction of $911,318.12. Following the sale, the chief financial officer directly owned 1,076,693 shares of the company’s stock, valued at $15,482,845.34. This represents a 5.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders acquired 1,693,532 shares of company stock valued at $23,185,430 and sold 2,427,928 shares valued at $36,497,981. 61.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asana

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASAN. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Asana by 104.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company’s stock valued at $56,173,000 after purchasing an additional 2,126,683 shares in the last quarter. Acadian Asset Management LLC raised its position in Asana by 8,850.6% during the first quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company’s stock valued at $16,950,000 after buying an additional 1,151,369 shares during the period. Marshall Wace LLP raised its position in Asana by 594.9% during the second quarter. Marshall Wace LLP now owns 1,285,583 shares of the company’s stock valued at $17,355,000 after buying an additional 1,100,575 shares during the period. Woodline Partners LP boosted its position in Asana by 700.1% during the 1st quarter. Woodline Partners LP now owns 688,713 shares of the company’s stock worth $10,035,000 after acquiring an additional 602,638 shares during the period. Finally, Nuveen LLC purchased a new position in Asana during the 1st quarter valued at about $8,419,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.