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

Wall Street Zen cut shares of Asana (NYSE:ASAN) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a research report on Wednesday, August 5th. Barclays lowered Asana to an “outperform” rating in a research report on Monday, August 24th. Citigroup reissued a “market outperform” rating on shares of Asana in a research note on Monday, August 24th. Morgan Stanley decreased their price objective on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 29th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $15.00 target price on shares of Asana in a research note on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.95.

Asana Stock Performance

Shares of NYSE:ASAN opened at $9.04 on Friday. The company has a market cap of $2.07 billion, a PE ratio of -13.70 and a beta of 0.95. Asana has a 52 week low of $5.38 and a 52 week high of $15.48. The firm has a 50 day simple moving average of $8.98 and a 200 day simple moving average of $7.56.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. During the same quarter last year, the business posted $0.06 EPS. 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. On average, equities analysts predict that Asana will post -0.53 earnings per share for the current year.

Insider Transactions at Asana

In related news, CEO Daniel Rogers sold 300,937 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 $2,867,929.61. Following the completion of the sale, the chief executive officer directly owned 1,624,894 shares in the company, valued at approximately $15,485,239.82. This trade represents a 15.63% 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aziz Megji sold 35,444 shares of Asana stock in a transaction on Monday, September 21st. The shares were sold at an average price of $9.53, for a total value of $337,781.32. Following the sale, the chief financial officer directly owned 729,945 shares of the company’s stock, valued at approximately $6,956,375.85. The trade was a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 521,135 shares of company stock valued at $4,871,882. 87.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Asana

Several institutional investors have recently made changes to their positions in ASAN. Optiver Holding B.V. grew its stake in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after buying an additional 5,002 shares in the last quarter. Performa Ltd US LLC raised its position in Asana by 335.1% during the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after acquiring an additional 4,775 shares in the last quarter. Summit Securities Group LLC bought a new position in Asana during the first quarter valued at approximately $53,000. HB Wealth Management LLC acquired a new stake in Asana in the second quarter valued at approximately $71,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Asana in the second quarter valued at approximately $88,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.