Asana (NYSE:ASAN) Shares Down 5.3% – Should You Sell?

Shares of Asana, Inc. (NYSE:ASAN) fell 5.3% during trading on Friday . The company traded as low as $9.45 and last traded at $9.3450. 962,564 shares were traded during mid-day trading, a decline of 84% from the average session volume of 5,966,077 shares. The stock had previously closed at $9.87.

Analyst Ratings Changes

ASAN has been the topic of a number of research reports. Zacks Research upgraded shares of Asana from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Citigroup reiterated a “market outperform” rating on shares of Asana in a research report on Friday, May 29th. Citizens Jmp reissued a “market outperform” rating and issued a $15.00 price target on shares of Asana in a research note on Tuesday, July 7th. Wall Street Zen lowered Asana from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, DA Davidson restated a “neutral” rating and issued a $8.00 price target on shares of Asana in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Asana presently has an average rating of “Hold” and a consensus target price of $9.27.

Asana Stock Down 4.8%

The company has a market capitalization of $2.17 billion, a P/E ratio of -13.61 and a beta of 0.93. The firm has a fifty day simple moving average of $7.66 and a 200-day simple moving average of $7.32.

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

Insider Activity at Asana

In related news, CFO Aziz Megji sold 13,239 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $6.73, for a total transaction of $89,098.47. Following the sale, the chief financial officer directly owned 765,389 shares in the company, valued at $5,151,067.97. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Marie Colendich sold 5,242 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.68, for a total transaction of $35,016.56. Following the sale, the insider owned 176,598 shares in the company, valued at approximately $1,179,674.64. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 118,304 shares of company stock worth $792,775 over the last three months. 87.54% of the stock is currently owned by insiders.

Institutional Trading of Asana

Several hedge funds and other institutional investors have recently modified their holdings of ASAN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Asana by 5.0% in the first 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. Empowered Funds LLC grew its holdings in shares of Asana by 40.9% during the first quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock worth $371,000 after buying an additional 7,381 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Asana by 14.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company’s stock valued at $3,770,000 after buying an additional 32,708 shares during the last quarter. American Century Companies Inc. acquired a new stake in Asana in the 2nd quarter valued at approximately $158,000. Finally, Prudential Financial Inc. bought a new stake in Asana in the 2nd quarter valued at approximately $160,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.