Asana (NYSE:ASAN) Shares Up 8.4% – Still a Buy?

Asana, Inc. (NYSE:ASAN) rose 8.4% on Friday . The stock traded as high as $6.87 and last traded at $6.9250. 5,494,396 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 6,124,314 shares. The stock had previously closed at $6.39.

Analyst Ratings Changes

ASAN has been the subject of a number of recent research reports. Citizens Jmp reissued a “market outperform” rating and set a $15.00 price objective on shares of Asana in a report on Friday, May 29th. DA Davidson restated a “neutral” rating and issued a $8.00 target price on shares of Asana in a report on Friday, May 29th. KeyCorp cut their target price on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Piper Sandler reiterated a “neutral” rating and set a $7.00 price target (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Finally, Morgan Stanley lowered their price target on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Asana has an average rating of “Hold” and a consensus price target of $9.27.

Asana Stock Performance

The company’s 50 day moving average price is $6.82 and its 200-day moving average price is $8.63. The company has a market cap of $1.61 billion, a PE ratio of -10.11 and a beta of 1.02.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The company had revenue of $205.09 million during the quarter, compared to the consensus estimate of $203.58 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Equities research analysts expect that Asana, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling at Asana

In other Asana news, CFO Aziz Megji sold 31,696 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $211,095.36. Following the sale, the chief financial officer owned 778,628 shares in the company, valued at $5,185,662.48. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Mark Rogers sold 26,975 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $179,653.50. Following the completion of the transaction, the chief executive officer directly owned 1,905,780 shares of the company’s stock, valued at $12,692,494.80. The trade was a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 86,033 shares of company stock worth $573,647. 61.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in shares of Asana during the 3rd quarter valued at about $27,000. Optiver Holding B.V. grew its holdings in shares of Asana by 2,008.8% during the first quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock worth $34,000 after purchasing an additional 5,002 shares in the last quarter. Performa Ltd US LLC increased its position in shares of Asana by 335.1% in the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock worth $40,000 after purchasing an additional 4,775 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Asana in the fourth quarter worth approximately $50,000. Finally, Summit Securities Group LLC purchased a new stake in Asana in the first quarter valued at approximately $53,000. 26.21% of the stock is currently owned by institutional investors.

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.