Katie Marie Colendich Sells 8,474 Shares of Asana (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) insider Katie Colendich sold 8,474 shares of Asana stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $9.77, for a total value of $82,790.98. Following the transaction, the insider directly owned 161,689 shares of the company’s stock, valued at approximately $1,579,701.53. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Katie Marie Colendich also recently made the following trade(s):

• On Monday, September 21st, Katie Colendich sold 7,436 shares of Asana stock. The stock was sold at an average price of $9.53, for a total transaction of $70,865.08.
• On Friday, June 26th, Katie Colendich sold 5,242 shares of Asana stock. The stock was sold at an average price of $6.68, for a total transaction of $35,016.56.

Asana Trading Up 4.6%

Shares of Asana stock traded up $0.41 during mid-day trading on Wednesday, reaching $9.49. 8,536,562 shares of the stock were exchanged, compared to its average volume of 6,187,731. Asana, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $15.48. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -14.39 and a beta of 0.95. The firm has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $7.53.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $216.43 million for the quarter, compared to analyst estimates of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. On average, research analysts predict that Asana, Inc. will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ASAN. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research report on Wednesday, August 5th. Zacks Research downgraded Asana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. KeyCorp reduced their price objective on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Wall Street Zen upgraded Asana from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of Asana in a research note on Friday, September 4th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Asana presently has an average rating of “Hold” and a consensus price target of $9.95.

Hedge Funds Weigh In On Asana

A number of hedge funds and other institutional investors have recently bought and sold shares of ASAN. ProShare Advisors LLC raised its position in shares of Asana by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 16,412 shares of the company’s stock valued at $225,000 after acquiring an additional 1,188 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Asana by 19.6% in the 4th quarter. Handelsbanken Fonder AB now owns 23,200 shares of the company’s stock worth $318,000 after purchasing an additional 3,800 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Asana by 13.9% during the first quarter. Blue Trust Inc. now owns 33,716 shares of the company’s stock worth $216,000 after purchasing an additional 4,117 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of Asana by 20.3% during the second quarter. 180 Wealth Advisors LLC now owns 27,637 shares of the company’s stock worth $193,000 after purchasing an additional 4,655 shares during the period. Finally, Performa Ltd US LLC increased its holdings in Asana by 335.1% in 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 last quarter. 26.21% of the stock is owned by institutional investors.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana’s products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.