Asana (NYSE:ASAN) CFO Sells $29,854.24 in Stock

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 3,224 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $9.26, for a total value of $29,854.24. Following the completion of the sale, the chief financial officer directly owned 726,721 shares in the company, valued at $6,729,436.46. This represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, September 21st, Aziz Megji sold 35,444 shares of Asana stock. The shares were sold at an average price of $9.53, for a total value of $337,781.32.

Asana Stock Performance

Shares of Asana stock opened at $9.04 on Friday. The business has a 50-day simple moving average of $8.98 and a 200-day simple moving average of $7.56. Asana, Inc. has a one year low of $5.38 and a one year high of $15.48. The company has a market cap of $2.07 billion, a PE ratio of -13.70 and a beta of 0.95.

Asana (NYSE:ASAN) last issued its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm had revenue of $216.43 million for the quarter, compared to analysts’ expectations of $214.15 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. 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, sell-side analysts predict that Asana, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Asana

Several institutional investors have recently modified their holdings of ASAN. Optiver Holding B.V. grew its position in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after buying an additional 5,002 shares during the last quarter. Performa Ltd US LLC raised its stake in Asana by 335.1% during the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock worth $40,000 after acquiring an additional 4,775 shares in the last quarter. Leonteq Securities AG purchased a new stake in Asana in the fourth quarter valued at $98,000. Summit Securities Group LLC purchased a new stake in Asana in the first quarter valued at $53,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Asana in the fourth quarter valued at $132,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ASAN. Wall Street Zen cut shares of Asana from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a report on Wednesday, August 5th. Citizens Jmp restated a “market outperform” rating and issued a $15.00 price target on shares of Asana in a research note on Friday, September 4th. DA Davidson lifted their price target on Asana from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Asana in a report on Monday, August 24th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus price target of $9.95.

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.