Insider Selling: Asana (NYSE:ASAN) CEO Sells 300,937 Shares

Asana, Inc. (NYSE:ASAN) CEO Daniel Rogers sold 300,937 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $9.53, for a total value of $2,867,929.61. Following the completion of the sale, the chief executive officer directly owned 1,624,894 shares in the company, valued at approximately $15,485,239.82. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $9.13, for a total value of $1,371,097.75.
• 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.
• On Tuesday, June 30th, Daniel Rogers sold 13,790 shares of Asana stock. The shares were sold at an average price of $6.89, for a total value of $95,013.10.

Asana Trading Up 4.6%

ASAN traded up $0.41 during midday trading on Wednesday, reaching $9.49. The company’s stock had a trading volume of 8,536,562 shares, compared to its average volume of 6,187,731. The company has a fifty day simple moving average of $8.89 and a 200 day simple moving average of $7.53. The stock has a market cap of $2.17 billion, a P/E ratio of -14.39 and a beta of 0.95. Asana, Inc. has a twelve month low of $5.38 and a twelve month high of $15.48.

Asana (NYSE:ASAN) last posted its quarterly earnings data 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 company had revenue of $216.43 million during the quarter, compared to analysts’ expectations of $214.15 million. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%.Asana’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business 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. Sell-side analysts expect that Asana, Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On Asana

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jupiter Asset Management Ltd. increased its stake in Asana by 705.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after acquiring an additional 1,204,232 shares during the period. Bank of America Corp DE boosted its holdings 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 in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Asana by 250.4% in the 1st 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. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Asana in the 1st quarter worth approximately $1,016,000. Finally, Royal Bank of Canada raised its holdings in shares of Asana by 2,925.2% in the 1st quarter. Royal Bank of Canada now owns 180,634 shares of the company’s stock worth $1,157,000 after buying an additional 174,663 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Asana from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. BTIG Research reissued a “neutral” rating on shares of Asana in a research report on Friday, September 4th. Zacks Research lowered Asana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $15.00 price target on shares of Asana in a report on Friday, September 4th. Finally, Piper Sandler raised their price objective on Asana from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.