Asana (NYSE:ASAN) Shares Down 5.8% – Here’s What Happened

Asana, Inc. (NYSE:ASAN)’s share price dropped 5.8% during trading on Tuesday . The company traded as low as $12.16 and last traded at $12.2110. Approximately 2,009,232 shares changed hands during trading, a decline of 26% from the average daily volume of 2,716,160 shares. The stock had previously closed at $12.96.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ASAN. BTIG Research initiated coverage on Asana in a research note on Tuesday, December 16th. They set a “neutral” rating on the stock. KeyCorp upgraded shares of Asana from a “sector weight” rating to an “overweight” rating and set a $18.00 target price on the stock in a research note on Monday, December 15th. DA Davidson decreased their price target on shares of Asana from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Wall Street Zen raised Asana from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Royal Bank Of Canada dropped their price target on Asana from $14.00 to $11.00 and set an “underperform” rating on the stock in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Asana has an average rating of “Hold” and a consensus target price of $16.11.

Asana Price Performance

The stock has a market capitalization of $2.83 billion, a PE ratio of -12.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.40 and a current ratio of 1.40. The business’s 50-day moving average price is $13.41 and its 200 day moving average price is $13.88.

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

Insider Activity

In related news, CFO Sonalee Elizabeth Parekh sold 24,888 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $13.54, for a total transaction of $336,983.52. Following the completion of the sale, the chief financial officer directly owned 968,149 shares in the company, valued at $13,108,737.46. This represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Anne Raimondi sold 62,165 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $14.31, for a total transaction of $889,581.15. Following the completion of the transaction, the chief operating officer owned 702,013 shares in the company, valued at $10,045,806.03. The trade was a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,600,027 shares of company stock valued at $23,904,222. 61.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. Bogart Wealth LLC bought a new stake in Asana during the second quarter worth about $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Asana in the 3rd quarter worth approximately $27,000. Farther Finance Advisors LLC grew its stake in shares of Asana by 119.7% in the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock worth $34,000 after acquiring an additional 1,391 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after acquiring an additional 1,427 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after purchasing an additional 1,706 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Company Profile

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.