Asana (NYSE:ASAN) Stock Price Down 6.3% – What’s Next?

Asana, Inc. (NYSE:ASAN)’s stock price fell 6.3% during mid-day trading on Wednesday . The stock traded as low as $6.89 and last traded at $6.9240. 577,120 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 6,020,336 shares. The stock had previously closed at $7.39.

Analyst Upgrades and Downgrades

ASAN has been the topic of a number of research reports. Morgan Stanley lowered their price target on Asana from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Friday, May 29th. Royal Bank Of Canada upped their price objective on Asana from $7.00 to $8.00 and gave the stock a “sector perform” rating in a report on Friday, May 29th. DA Davidson reiterated a “neutral” rating and set a $8.00 price objective on shares of Asana in a research report on Friday, May 29th. Piper Sandler reissued a “neutral” rating and set a $7.00 price objective (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Asana has an average rating of “Hold” and a consensus price target of $9.27.

Asana Stock Performance

The company has a market cap of $1.56 billion, a PE ratio of -9.83 and a beta of 0.97. The business’s 50-day moving average is $7.17 and its 200 day moving average is $7.76.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $205.09 million for the quarter, compared to analysts’ expectations of $203.58 million. During the same period last year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter 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 anticipate that Asana, Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Daniel Mark Rogers sold 13,790 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $6.89, for a total transaction of $95,013.10. Following the completion of the sale, the chief executive officer directly owned 1,891,990 shares in the company, valued at $13,035,811.10. This represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Veronica Sosa sold 11,378 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $75,777.48. Following the sale, the chief accounting officer directly owned 62,344 shares of the company’s stock, valued at $415,211.04. The trade was a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 118,304 shares of company stock worth $792,775. 61.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Asana

Several hedge funds and other institutional investors have recently modified their holdings of ASAN. 180 Wealth Advisors LLC increased its position in Asana by 6.8% during the 4th quarter. 180 Wealth Advisors LLC now owns 12,489 shares of the company’s stock valued at $171,000 after buying an additional 798 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Asana by 4.3% in the third quarter. Vident Advisory LLC now owns 22,527 shares of the company’s stock worth $301,000 after acquiring an additional 930 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Asana by 7.8% during the fourth quarter. ProShare Advisors LLC now owns 16,412 shares of the company’s stock valued at $225,000 after acquiring an additional 1,188 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after purchasing an additional 1,706 shares during the last quarter. Finally, Diversified Trust Co. boosted its stake in Asana by 12.4% in the 4th quarter. Diversified Trust Co. now owns 16,468 shares of the company’s stock worth $226,000 after purchasing an additional 1,822 shares in the last quarter. 26.21% of the stock is 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.