Asana (NYSE:ASAN) Releases Earnings Results, Beats Estimates By $0.02 EPS

Asana (NYSE:ASAN) issued its quarterly earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02, FiscalAI reports. The firm had revenue of $205.10 million for the quarter, compared to the consensus estimate of $203.58 million. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%.

Asana Price Performance

Shares of Asana stock traded up $0.27 during trading on Thursday, reaching $6.68. 10,154,330 shares of the company traded hands, compared to its average volume of 5,998,124. Asana has a 1-year low of $5.38 and a 1-year high of $19.00. The company has a 50 day moving average price of $6.31 and a 200-day moving average price of $9.43. The firm has a market capitalization of $1.59 billion, a PE ratio of -8.35 and a beta of 0.95.

Insider Activity at Asana

In related news, insider Katie Marie Colendich sold 7,304 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total transaction of $54,195.68. Following the transaction, the insider owned 108,214 shares in the company, valued at $802,947.88. The trade was a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.65, for a total transaction of $227,104.15. Following the transaction, the chief financial officer owned 933,998 shares in the company, valued at $6,211,086.70. The trade was a 3.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,226 shares of company stock worth $472,065 in the last quarter. Company insiders own 61.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Asana by 18.3% during the fourth quarter. Invesco Ltd. now owns 106,753 shares of the company’s stock worth $1,464,000 after buying an additional 16,500 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Asana during the fourth quarter worth $211,000. XTX Topco Ltd raised its holdings in Asana by 213.4% during the fourth quarter. XTX Topco Ltd now owns 235,451 shares of the company’s stock worth $3,228,000 after buying an additional 160,329 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in Asana by 663.4% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 109,178 shares of the company’s stock worth $1,497,000 after buying an additional 94,876 shares during the last quarter. Finally, Occudo Quantitative Strategies LP raised its holdings in Asana by 76.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 156,282 shares of the company’s stock worth $2,143,000 after buying an additional 67,560 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ASAN shares. Royal Bank Of Canada upgraded shares of Asana from an “underperform” rating to a “sector perform” rating and set a $7.00 price target on the stock in a research report on Wednesday, April 1st. Morgan Stanley dropped their price target on shares of Asana from $14.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 3rd. Jefferies Financial Group dropped their price target on shares of Asana from $15.00 to $8.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. Citigroup dropped their price target on shares of Asana from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, UBS Group dropped their price target on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.32.

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.