Asana (NYSE:ASAN) CAO Veronica Sosa Sells 6,479 Shares

Asana, Inc. (NYSE:ASAN) CAO Veronica Sosa sold 6,479 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $6.65, for a total transaction of $43,085.35. Following the completion of the transaction, the chief accounting officer directly owned 73,722 shares in the company, valued at $490,251.30. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Asana Stock Performance

Shares of NYSE:ASAN opened at $6.24 on Wednesday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -7.79 and a beta of 1.01. The firm has a fifty day moving average price of $8.42 and a 200 day moving average price of $11.83. Asana, Inc. has a fifty-two week low of $6.16 and a fifty-two week high of $19.00.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $205.57 million for the quarter, compared to the consensus estimate of $205.13 million. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts predict that Asana, Inc. will post -1.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Asana in a research report on Monday, December 29th. Citigroup cut their price target on Asana from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. HSBC set a $8.00 price objective on Asana in a research note on Friday, February 13th. Piper Sandler lowered their target price on Asana from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Finally, Robert W. Baird reduced their price target on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.46.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new stake in Asana during the third quarter worth approximately $27,000. Farther Finance Advisors LLC lifted its stake in shares of Asana by 119.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock valued at $34,000 after purchasing an additional 1,391 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Asana by 137.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock worth $34,000 after purchasing an additional 1,427 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Asana in the 4th quarter worth approximately $50,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Asana by 64.0% during the 2nd 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 last quarter. Hedge funds and other 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.