Asana (NYSE:ASAN) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Asana, Inc. (NYSE:ASAN) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $9.95 and traded as low as $9.32. Asana shares last traded at $9.59, with a volume of 6,191,316 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ASAN. Barclays lowered Asana to an “outperform” rating in a report on Monday, August 24th. Zacks Research lowered Asana from a “hold” rating to a “strong sell” rating in a report on Friday, October 9th. Piper Sandler boosted their price objective on Asana from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research report on Tuesday, November 3rd. Finally, Citigroup restated a “market outperform” rating on shares of Asana in a research note on Monday, August 24th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Asana presently has a consensus rating of “Hold” and an average price target of $9.95.

Asana Stock Down 4.3%

The stock has a market cap of $2.20 billion, a P/E ratio of -14.53 and a beta of 0.99. The business’s 50-day simple moving average is $9.95 and its two-hundred day simple moving average is $8.14.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm had revenue of $216.43 million during the quarter, compared to the consensus estimate of $214.15 million. During the same quarter last year, the company earned $0.06 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. Analysts anticipate that Asana, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Asana news, CEO Daniel Rogers sold 300,937 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $9.53, for a total transaction of $2,867,929.61. Following the sale, the chief executive officer owned 1,624,894 shares of the company’s stock, valued at $15,485,239.82. The trade was a 15.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Colendich sold 8,474 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $9.77, for a total value of $82,790.98. Following the sale, the insider owned 161,689 shares in the company, valued at approximately $1,579,701.53. This represents a 4.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 551,360 shares of company stock valued at $5,239,118. Company insiders own 87.54% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of Asana by 37.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock valued at $45,979,000 after purchasing an additional 1,969,657 shares during the period. Voya Investment Management LLC boosted its stake in Asana by 2.3% in the 3rd quarter. Voya Investment Management LLC now owns 4,833,361 shares of the company’s stock worth $40,745,000 after purchasing an additional 108,829 shares during the period. Bank of America Corp DE boosted its stake in Asana by 92.6% in the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock worth $14,318,000 after purchasing an additional 1,075,572 shares during the period. First Trust Advisors LP grew its holdings in Asana by 12.9% during the 1st quarter. First Trust Advisors LP now owns 1,988,739 shares of the company’s stock valued at $12,728,000 after buying an additional 227,204 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Asana by 108.3% in the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock worth $6,217,000 after buying an additional 461,858 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

About Asana

Asana, Inc. develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform provides tools for assigning work, setting deadlines, tracking progress and sharing updates across teams. Organizations can use Asana to manage projects and recurring processes, align work with broader goals, and connect workflows with other business applications. The company also offers features designed to help teams automate work and use artificial intelligence within their workflows.