Asana (NYSE:ASAN) Upgraded by Wall Street Zen to Buy Rating

Asana (NYSE:ASAN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research firms have also weighed in on ASAN. Morgan Stanley raised their price objective on shares of Asana from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Thursday, September 4th. Royal Bank Of Canada raised their price target on shares of Asana from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Wednesday. UBS Group decreased their price objective on Asana from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday. Citigroup lowered their price objective on Asana from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.19.

Asana Stock Performance

Shares of ASAN stock opened at $14.17 on Friday. The stock has a market capitalization of $3.35 billion, a PE ratio of -15.24 and a beta of 0.93. The business’s 50 day simple moving average is $13.55 and its 200 day simple moving average is $14.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.41. Asana has a one year low of $11.58 and a one year high of $27.77.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $201.03 million during the quarter, compared to analyst estimates of $198.78 million. Asana had a negative return on equity of 79.80% and a negative net margin of 28.33%.The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. Asana has set its FY 2026 guidance at 0.250-0.260 EPS and its Q4 2026 guidance at 0.070-0.070 EPS. As a group, research analysts forecast that Asana will post -1.09 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Anne Raimondi sold 28,026 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $14.17, for a total transaction of $397,128.42. Following the completion of the transaction, the chief operating officer directly owned 862,469 shares of the company’s stock, valued at $12,221,185.73. This represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justin Rosenstein sold 13,701 shares of Asana stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $14.95, for a total transaction of $204,829.95. Following the completion of the sale, the director directly owned 1,068,846 shares in the company, valued at $15,979,247.70. This trade represents a 1.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,427,928 shares of company stock worth $36,497,981. Insiders own 61.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ASAN. Vanguard Group Inc. boosted its position in shares of Asana by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company’s stock valued at $155,261,000 after acquiring an additional 475,100 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Asana by 11.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,648,910 shares of the company’s stock valued at $62,109,000 after purchasing an additional 487,935 shares during the last quarter. Geode Capital Management LLC lifted its position in Asana by 13.9% during the second quarter. Geode Capital Management LLC now owns 2,153,811 shares of the company’s stock valued at $29,080,000 after purchasing an additional 263,601 shares during the last quarter. Acadian Asset Management LLC grew its stake in Asana by 73.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,020,660 shares of the company’s stock worth $27,256,000 after buying an additional 856,282 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Asana by 52.7% during the 3rd quarter. Marshall Wace LLP now owns 1,963,599 shares of the company’s stock worth $26,234,000 after acquiring an additional 678,016 shares during the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.