Katie Marie Colendich Sells 7,304 Shares of Asana (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) insider Katie Marie Colendich sold 7,304 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the transaction, the insider directly owned 108,214 shares of the company’s stock, valued at $802,947.88. This represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Asana Stock Performance

Shares of NYSE ASAN opened at $7.02 on Friday. The company has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $12.23. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -8.77 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.19. Asana, Inc. has a 12 month low of $6.51 and a 12 month high of $19.00.

Asana (NYSE:ASAN) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $205.57 million for the quarter, compared to analyst estimates of $205.13 million. Asana had a negative net margin of 23.90% and a negative return on equity of 71.50%. The business’s revenue was up 9.2% compared to the same quarter last year. As a group, analysts predict that Asana, Inc. will post -1.09 earnings per share for the current year.

Analyst Ratings Changes

ASAN has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Asana in a research note on Monday, December 29th. HSBC set a $8.00 price target on Asana in a research report on Friday, February 13th. Piper Sandler lowered their price objective on Asana from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Robert W. Baird dropped their price objective on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Finally, Morgan Stanley cut their target price on shares of Asana from $14.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.46.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in shares of Asana by 18.3% during the 4th quarter. Invesco Ltd. now owns 106,753 shares of the company’s stock worth $1,464,000 after purchasing an additional 16,500 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Asana in the fourth quarter valued at approximately $211,000. XTX Topco Ltd increased its holdings in shares of Asana by 213.4% in the fourth quarter. XTX Topco Ltd now owns 235,451 shares of the company’s stock valued at $3,228,000 after purchasing an additional 160,329 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in Asana by 663.4% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 109,178 shares of the company’s stock worth $1,497,000 after buying an additional 94,876 shares in the last quarter. Finally, Occudo Quantitative Strategies LP boosted its stake in Asana by 76.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 156,282 shares of the company’s stock worth $2,143,000 after buying an additional 67,560 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

About Asana

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.