Asana, Inc. (NYSE:ASAN) Stock Has Consensus Target Price of $9.95

Shares of Asana, Inc. (NYSE:ASAN) have received a consensus rating of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.95.

ASAN has been the subject of several recent analyst reports. UBS Group reiterated a “neutral” rating on shares of Asana in a report on Friday. Piper Sandler boosted their price target on shares of Asana from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Barclays lowered shares of Asana to an “outperform” rating in a report on Monday, August 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research report on Wednesday, August 5th. Finally, Robert W. Baird raised their price objective on shares of Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th.

Insider Buying and Selling at Asana

In related news, CFO Aziz Megji sold 35,444 shares of the stock in a transaction 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 completion of the sale, the chief financial officer directly owned 729,945 shares in the company, valued at approximately $6,956,375.85. This trade represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $9.77, for a total value of $82,790.98. Following the sale, the insider directly owned 161,689 shares of the company’s stock, valued at $1,579,701.53. This trade represents a 4.98% 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. In the last quarter, insiders have sold 531,684 shares of company stock worth $5,012,451. 87.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its stake in Asana by 37.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock valued at $45,979,000 after acquiring an additional 1,969,657 shares during the period. Bank of America Corp DE increased its stake in Asana by 92.6% during the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock worth $14,318,000 after purchasing an additional 1,075,572 shares in the last quarter. First Trust Advisors LP increased its stake in Asana by 12.9% during the 1st quarter. First Trust Advisors LP now owns 1,988,739 shares of the company’s stock worth $12,728,000 after purchasing an additional 227,204 shares in the last quarter. Squarepoint Ops LLC increased its stake in Asana by 108.3% during the 2nd quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock worth $6,217,000 after purchasing an additional 461,858 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Asana by 49.3% during the 1st quarter. Bank of New York Mellon Corp now owns 856,622 shares of the company’s stock worth $5,482,000 after buying an additional 283,054 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Asana Stock Performance

Shares of NYSE:ASAN traded down $0.53 during trading on Friday, reaching $9.89. The company had a trading volume of 5,421,424 shares, compared to its average volume of 6,542,181. The firm’s fifty day moving average is $9.39 and its 200 day moving average is $7.84. The firm has a market capitalization of $2.26 billion, a PE ratio of -14.98 and a beta of 1.19. Asana has a twelve month low of $5.38 and a twelve month high of $15.28.

Asana (NYSE:ASAN) last announced its quarterly earnings data 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. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%. The business had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. 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 predict that Asana will post -0.53 earnings per share for the current fiscal 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.