Insider Selling: Asana (NYSE:ASAN) CFO Sells $89,098.47 in Stock

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 13,239 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $6.73, for a total value of $89,098.47. Following the sale, the chief financial officer owned 765,389 shares of the company’s stock, valued at $5,151,067.97. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aziz Megji also recently made the following trade(s):

• On Monday, June 22nd, Aziz Megji sold 31,696 shares of Asana stock. The shares were sold at an average price of $6.66, for a total transaction of $211,095.36.

Asana Trading Up 9.0%

NYSE ASAN traded up $0.57 on Friday, reaching $6.96. The stock had a trading volume of 11,321,176 shares, compared to its average volume of 6,174,618. Asana, Inc. has a 1 year low of $5.38 and a 1 year high of $15.71. The business has a 50 day moving average price of $6.82 and a 200 day moving average price of $8.63. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -10.09 and a beta of 1.02.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The firm had revenue of $205.09 million during the quarter, compared to analysts’ expectations of $203.58 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, analysts anticipate that Asana, Inc. will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ASAN. KeyCorp cut their target price on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Piper Sandler reissued a “neutral” rating and issued a $7.00 price objective (down from $9.00) on shares of Asana in a research note on Tuesday, April 14th. Citigroup reaffirmed a “market outperform” rating on shares of Asana in a research report on Friday, May 29th. Royal Bank Of Canada lifted their price target on shares of Asana from $7.00 to $8.00 and gave the company a “sector perform” rating in a research report on Friday, May 29th. Finally, UBS Group restated a “neutral” rating and issued a $8.00 price objective on shares of Asana in a research note on Friday, May 29th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.27.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Asana by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company’s stock worth $180,606,000 after buying an additional 48,847 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Asana by 37.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock worth $45,979,000 after acquiring an additional 1,969,657 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Asana by 53.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock worth $38,277,000 after acquiring an additional 977,107 shares during the last quarter. Marshall Wace LLP increased its position in Asana by 35.1% during the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock worth $36,375,000 after acquiring an additional 689,546 shares during the period. Finally, Bank of America Corp DE increased its position in Asana by 92.6% during the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock worth $14,318,000 after acquiring an additional 1,075,572 shares during the period. Institutional investors and hedge funds 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.