Asana (NYSE:ASAN) Releases Earnings Results, Beats Expectations By $0.01 EPS

Asana (NYSE:ASAN) released its quarterly earnings results on Monday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01, FiscalAI reports. Asana had a negative net margin of 28.33% and a negative return on equity of 79.80%. The company had revenue of $205.57 million during the quarter, compared to the consensus estimate of $205.13 million.

Asana Price Performance

NYSE:ASAN traded up $0.21 during trading hours on Monday, hitting $7.31. The stock had a trading volume of 9,479,886 shares, compared to its average volume of 5,369,796. The company has a 50 day simple moving average of $10.55 and a two-hundred day simple moving average of $12.66. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -7.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.40. Asana has a one year low of $6.51 and a one year high of $19.56.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 76,093 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $14.47, for a total transaction of $1,101,065.71. Following the completion of the transaction, the chief operating officer owned 764,178 shares of the company’s stock, valued at approximately $11,057,655.66. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin Rosenstein sold 850,233 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $15.12, for a total transaction of $12,855,522.96. Following the completion of the transaction, the director owned 210,398 shares in the company, valued at approximately $3,181,217.76. This trade represents a 80.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,127,448 shares of company stock worth $16,825,400 over the last ninety days. 61.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Asana by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock valued at $707,000 after purchasing an additional 2,328 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Asana during the 3rd quarter valued at approximately $189,000. Boothbay Fund Management LLC purchased a new stake in Asana in the fourth quarter worth $180,000. Sender Co & Partners Inc. purchased a new stake in shares of Asana in the 3rd quarter worth about $173,000. Finally, Mariner LLC bought a new stake in Asana during the 4th quarter valued at approximately $166,000. Institutional investors own 26.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ASAN shares. Citigroup upgraded shares of Asana from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, January 15th. DA Davidson lowered their price objective on Asana from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. HSBC set a $8.00 price target on shares of Asana in a report on Friday, February 13th. BTIG Research started coverage on Asana in a report on Tuesday, December 16th. They issued a “neutral” rating on the stock. Finally, UBS Group cut their target price on Asana from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Asana has a consensus rating of “Hold” and a consensus target price of $14.96.

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.