Asana (NYSE:ASAN) Insider Sells 7,436 Shares

Asana, Inc. (NYSE:ASAN) insider Katie Colendich sold 7,436 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $9.53, for a total transaction of $70,865.08. Following the transaction, the insider directly owned 170,163 shares in the company, valued at approximately $1,621,653.39. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 22nd, Katie Colendich sold 8,474 shares of Asana stock. The stock was sold at an average price of $9.77, for a total transaction of $82,790.98.
• 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 Stock Up 4.6%

Shares of ASAN traded up $0.41 during trading hours on Wednesday, reaching $9.49. 8,536,562 shares of the company traded hands, compared to its average volume of 6,187,731. The company’s fifty day moving average price is $8.89 and its two-hundred day moving average price is $7.53. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -14.39 and a beta of 0.95. Asana, Inc. has a 12 month low of $5.38 and a 12 month high of $15.48.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $216.43 million during the quarter, compared to the consensus estimate of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. Asana’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm 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 expect that Asana, Inc. will post -0.53 EPS for the current year.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. Sequoia Financial Advisors LLC bought a new stake in shares of Asana in the 2nd quarter worth $88,000. Integrated Wealth Concepts LLC bought a new position in shares of Asana during the second quarter valued at $164,000. Squarepoint Ops LLC lifted its holdings in shares of 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 in the last quarter. Allworth Financial LP boosted its position in shares of Asana by 193.4% during the second quarter. Allworth Financial LP now owns 13,195 shares of the company’s stock valued at $92,000 after buying an additional 8,698 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in Asana in the 2nd quarter worth about $451,000. Institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ASAN shares. Wall Street Zen raised Asana from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Zacks Research lowered Asana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. BTIG Research reiterated a “neutral” rating on shares of Asana in a research note on Friday, September 4th. Citigroup reissued a “market outperform” rating on shares of Asana in a report on Monday, August 24th. Finally, Morgan Stanley cut their target price on Asana from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Asana has an average rating of “Hold” and an average target price 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.