Asana (NYSE:ASAN) Trading Up 4.6% – Should You Buy?

Shares of Asana, Inc. (NYSE:ASAN) were up 4.6% on Friday . The stock traded as high as $6.12 and last traded at $6.0780. Approximately 1,436,481 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 5,964,547 shares. The stock had previously closed at $5.81.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ASAN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research note on Friday, May 8th. KeyCorp decreased their price target on Asana from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Piper Sandler restated a “neutral” rating and issued a $7.00 price target (down from $9.00) on shares of Asana in a research note on Tuesday, April 14th. Wall Street Zen cut Asana from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 19th. Finally, Citigroup reduced their price objective on Asana from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.32.

Asana Price Performance

The company has a market cap of $1.49 billion, a PE ratio of -7.82 and a beta of 0.95. The business has a 50-day moving average of $6.47 and a 200 day moving average of $9.89.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $205.57 million during the quarter, compared to analysts’ expectations of $205.13 million. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities analysts predict that Asana, Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, insider Katie Marie Colendich sold 7,304 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the sale, the insider owned 108,214 shares of the company’s stock, valued at approximately $802,947.88. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $6.62, for a total value of $123,906.54. Following the sale, the chief financial officer directly owned 915,281 shares of the company’s stock, valued at $6,059,160.22. This represents a 2.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 70,226 shares of company stock valued at $472,065. Company insiders own 61.28% of the company’s stock.

Institutional Trading of Asana

Hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in Asana during the third quarter valued at about $27,000. Jones Financial Companies Lllp grew its holdings in Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after purchasing an additional 1,427 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Asana during the fourth quarter valued at about $50,000. Daiwa Securities Group Inc. grew its holdings in Asana by 64.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after purchasing an additional 1,706 shares during the period. Finally, Performa Ltd US LLC grew its holdings in Asana by 335.1% during the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after purchasing an additional 4,775 shares during the period. Institutional investors 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.