Asana (NYSE:ASAN) CEO Sells 18,021 Shares of Company Stock

Asana, Inc. (NYSE:ASAN) CEO Daniel Rogers sold 18,021 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $10.04, for a total value of $180,930.84. Following the transaction, the chief executive officer directly owned 1,456,698 shares of the company’s stock, valued at approximately $14,625,247.92. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Mark Rogers also recently made the following trade(s):

• On Tuesday, September 22nd, Daniel Rogers sold 150,175 shares of Asana stock. The shares were sold at an average price of $9.13, for a total value of $1,371,097.75.
• On Monday, September 21st, Daniel Rogers sold 300,937 shares of Asana stock. The stock was sold at an average price of $9.53, for a total value of $2,867,929.61.
• On Thursday, August 27th, Daniel Rogers sold 1,655 shares of Asana stock. The stock was sold at an average price of $10.00, for a total value of $16,550.00.

Asana Stock Down 0.1%

Shares of NYSE ASAN traded down $0.01 during trading on Tuesday, reaching $9.88. The company had a trading volume of 3,523,624 shares, compared to its average volume of 6,148,633. Asana, Inc. has a 12-month low of $5.38 and a 12-month high of $15.28. The stock has a market cap of $2.26 billion, a PE ratio of -14.98 and a beta of 1.19. The business’s 50-day moving average is $9.30 and its 200 day moving average is $7.74.

Asana (NYSE:ASAN) last issued its quarterly 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. The firm had revenue of $216.43 million during the quarter, compared to the consensus estimate of $214.15 million. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the company 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, analysts anticipate that Asana, Inc. will post -0.53 earnings per share for the current year.

Institutional Trading of Asana

Institutional investors have recently made changes to their positions in the stock. 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 period. Bank of America Corp DE lifted 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 valued at $14,318,000 after purchasing an additional 1,075,572 shares during the period. Squarepoint Ops LLC lifted its position in Asana by 108.3% during the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock valued at $6,217,000 after purchasing an additional 461,858 shares during the period. Y Intercept Hong Kong Ltd lifted its position in Asana by 250.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 532,796 shares of the company’s stock valued at $3,410,000 after purchasing an additional 380,741 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Asana by 49.3% in the first quarter. Bank of New York Mellon Corp now owns 856,622 shares of the company’s stock worth $5,482,000 after purchasing an additional 283,054 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Analyst Ratings Changes

ASAN has been the subject of a number of analyst reports. Barclays lowered shares of Asana to an “outperform” rating in a research note on Monday, August 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a research note on Wednesday, August 5th. Piper Sandler increased their price target on shares of Asana from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, September 4th. BTIG Research reiterated a “neutral” rating on shares of Asana in a report on Friday, September 4th. Finally, Citigroup reissued a “market outperform” rating on shares of Asana in a research report on Monday, August 24th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Asana presently has an average rating of “Hold” and an average target price of $9.95.

About Asana

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks, goals and business processes. Its platform provides tools for assigning and tracking work, managing timelines and dependencies, communicating about projects, and monitoring progress across teams and departments.

Asana’s products support a range of use cases, including project and portfolio management, workflow automation, strategic planning, marketing campaigns, product development and employee onboarding.