Asana Sees Unusually Large Options Volume (NYSE:ASAN)

Asana, Inc. (NYSE:ASAN) was the target of unusually large options trading activity on Tuesday. Investors purchased 8,079 call options on the stock. This represents an increase of approximately 55% compared to the typical daily volume of 5,221 call options.

Wall Street Analyst Weigh In

ASAN has been the topic of several research analyst reports. Citigroup decreased their price objective on shares of Asana from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday. UBS Group reduced their target price on Asana from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. DA Davidson set a $15.00 price target on Asana in a research report on Wednesday. Morgan Stanley raised their price target on Asana from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.17.

Asana Trading Up 7.6%

ASAN stock opened at $14.40 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.16. Asana has a twelve month low of $11.58 and a twelve month high of $27.77. The company has a market cap of $3.40 billion, a P/E ratio of -15.48 and a beta of 0.93. The business has a fifty day moving average of $13.54 and a 200-day moving average of $14.20.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, December 2nd. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $201.03 million during the quarter, compared to analysts’ expectations of $198.78 million. Asana had a negative net margin of 28.33% and a negative return on equity of 76.23%. Asana’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($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, equities research analysts expect that Asana will post -1.09 EPS for the current year.

Insider Buying and Selling

In related news, Director Justin Rosenstein sold 1,199,560 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $15.23, for a total transaction of $18,269,298.80. Following the completion of the transaction, the director directly owned 1,555,925 shares in the company, valued at $23,696,737.75. This represents a 43.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Anne Raimondi sold 28,026 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $14.17, for a total transaction of $397,128.42. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,427,928 shares of company stock valued at $36,497,981. 61.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ASAN. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Asana by 17.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,794,103 shares of the company’s stock valued at $23,969,000 after purchasing an additional 263,251 shares in the last quarter. Sender Co & Partners Inc. bought a new position in shares of Asana during the third quarter worth about $173,000. PharVision Advisers LLC raised its position in Asana by 61.2% in the 3rd quarter. PharVision Advisers LLC now owns 16,314 shares of the company’s stock valued at $218,000 after buying an additional 6,191 shares during the last quarter. XTX Topco Ltd bought a new stake in Asana in the 3rd quarter valued at approximately $1,004,000. Finally, Voleon Capital Management LP bought a new stake in Asana in the 3rd quarter valued at approximately $370,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Company Profile

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.