Asana (NYSE:ASAN) CFO Sells 35,444 Shares

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 35,444 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $9.53, for a total value of $337,781.32. Following the completion of the transaction, the chief financial officer owned 729,945 shares in the company, valued at approximately $6,956,375.85. This trade represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Wednesday, September 23rd, Aziz Megji sold 3,224 shares of Asana stock. The shares were sold at an average price of $9.26, for a total transaction of $29,854.24.

Asana Stock Performance

Asana stock traded up $0.41 during trading on Wednesday, reaching $9.49. 8,536,562 shares of the company’s stock were exchanged, compared to its average volume of 8,144,764. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -14.39 and a beta of 0.95. Asana, Inc. has a 52-week low of $5.38 and a 52-week high of $15.48. The company’s 50-day moving average is $8.89 and its two-hundred day moving average is $7.53.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. Analysts anticipate that Asana, Inc. will post -0.53 EPS for the current year.

Hedge Funds Weigh In On Asana

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new position in shares of Asana in the 2nd quarter valued at $88,000. Integrated Wealth Concepts LLC purchased a new stake in Asana during the second quarter valued at about $164,000. Squarepoint Ops LLC boosted its holdings in shares of Asana by 108.3% in the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock worth $6,217,000 after buying an additional 461,858 shares during the period. Allworth Financial LP increased its position in shares of Asana by 193.4% in the second quarter. Allworth Financial LP now owns 13,195 shares of the company’s stock worth $92,000 after acquiring an additional 8,698 shares in the last quarter. Finally, Corient Private Wealth LP acquired a new stake in shares of Asana during the second quarter valued at approximately $451,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana News Roundup

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Recent insider transactions were conducted under pre-arranged Rule 10b5-1 trading plans, which generally indicates the sales were scheduled in advance rather than based on newly developed concerns about Asana’s outlook.
• Neutral Sentiment: Brokerages have assigned Asana an average “Hold” recommendation, suggesting limited near-term conviction among analysts. Asana Receives Average Hold Recommendation
• Neutral Sentiment: Coverage indicates Asana is holding near its annual trading range as investors reassess growth metrics. This points to a market focused on whether the company can reaccelerate growth and improve operating performance. Asana Stock Holds Near Its Yearly Range
• Negative Sentiment: CEO Daniel Rogers sold a combined 451,112 shares worth approximately $4.24 million across September 21–22, reducing his holdings by roughly 25% over the two transactions. Although the trades were pre-arranged, substantial selling by the chief executive can weigh on sentiment.
• Negative Sentiment: Insider Katie Colendich sold a combined 15,910 shares for approximately $153,656 under a 10b5-1 plan, modestly reducing her ownership.
• Neutral Sentiment: CFO Aziz Megji sold 3,224 shares, but the transaction was specifically made to cover tax withholding tied to vested equity awards, making it less indicative of a negative view of Asana’s prospects.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Asana from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. KeyCorp reduced their target price on shares of Asana from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Piper Sandler upped their price objective on shares of Asana from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Royal Bank Of Canada boosted their price target on shares of Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a research report on Friday, September 4th. Finally, Barclays cut shares of Asana to an “outperform” rating in a report on Monday, August 24th. Four investment 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. Based on data from MarketBeat.com, the company currently 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 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.