Asana (NYSE:ASAN) Rating Lowered to “Hold” at Wall Street Zen

Asana (NYSE:ASAN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

ASAN has been the topic of several other research reports. Zacks Research downgraded Asana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Robert W. Baird increased 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price target on Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a research report on Friday, September 4th. Finally, Morgan Stanley decreased their price target on shares of Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.95.

Asana Stock Up 0.3%

Asana stock opened at $9.04 on Friday. The stock has a market capitalization of $2.07 billion, a PE ratio of -13.70 and a beta of 0.95. Asana has a twelve month low of $5.38 and a twelve month high of $15.48. The company has a 50 day moving average of $8.98 and a 200-day moving average of $7.56.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $216.43 million during the quarter, compared to the consensus estimate of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. Equities analysts anticipate that Asana will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, CFO Aziz Megji sold 35,444 shares of the business’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 transaction, the chief financial officer owned 729,945 shares of the company’s stock, valued at $6,956,375.85. The trade was a 4.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Katie Colendich sold 8,474 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $9.77, for a total value of $82,790.98. Following the completion of the sale, the insider directly owned 161,689 shares of the company’s stock, valued at approximately $1,579,701.53. The trade was a 4.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 521,135 shares of company stock worth $4,871,882 over the last ninety days. 87.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Asana

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASAN. Sequoia Financial Advisors LLC bought a new stake in shares of Asana in the 2nd quarter valued at about $88,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Asana in the second quarter valued at approximately $164,000. Squarepoint Ops LLC lifted its position in shares of Asana by 108.3% in the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock valued at $6,217,000 after buying an additional 461,858 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Asana by 193.4% during the 2nd quarter. Allworth Financial LP now owns 13,195 shares of the company’s stock worth $92,000 after acquiring an additional 8,698 shares during the period. Finally, Corient Private Wealth LP bought a new position in shares of Asana during the 2nd quarter worth approximately $451,000. 26.21% of the stock is owned by institutional investors.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana’s products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.