Asana (NYSE:ASAN) Shares Gap Down – Here’s What Happened

Asana, Inc. (NYSE:ASAN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $7.69, but opened at $7.44. Asana shares last traded at $7.4150, with a volume of 353,996 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ASAN shares. Royal Bank Of Canada upped their price objective on shares of Asana from $7.00 to $8.00 and gave the stock a “sector perform” rating in a report on Friday, May 29th. Citizens Jmp restated a “market outperform” rating and set a $15.00 target price on shares of Asana in a report on Tuesday, July 7th. Morgan Stanley reduced 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. DA Davidson reiterated a “neutral” rating and set a $8.00 price target on shares of Asana in a research note on Friday, May 29th. Finally, Wall Street Zen downgraded Asana from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.27.

Asana Stock Down 1.9%

The stock’s 50-day moving average price is $7.12 and its 200 day moving average price is $7.85. The company has a market cap of $1.74 billion, a P/E ratio of -10.93 and a beta of 0.97.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share (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 business had revenue of $205.09 million during the quarter, compared to the consensus estimate of $203.58 million. During the same period in the prior year, the firm earned $0.05 EPS. Asana’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. Analysts expect that Asana, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Daniel Mark Rogers sold 13,790 shares of the business’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 transaction, the chief executive officer owned 1,891,990 shares of the company’s stock, valued at approximately $13,035,811.10. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $6.68, for a total transaction of $35,016.56. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 118,304 shares of company stock valued at $792,775 over the last three months. 61.28% of the stock is currently owned by insiders.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. FNY Investment Advisers LLC bought a new position in Asana in the third quarter worth $27,000. Optiver Holding B.V. increased its holdings in 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 during the period. Performa Ltd US LLC increased its holdings in Asana by 335.1% in the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after buying an additional 4,775 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Asana in the 4th quarter valued at $50,000. Finally, Summit Securities Group LLC acquired a new position in shares of Asana in the 1st quarter valued at $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.