Asana (NYSE:ASAN) Insider Sells 6,318 Shares of Stock

Asana, Inc. (NYSE:ASAN) insider Katie Colendich sold 6,318 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $8.65, for a total transaction of $54,650.70. Following the transaction, the insider owned 155,371 shares in the company, valued at $1,343,959.15. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, September 22nd, Katie Colendich sold 8,474 shares of Asana stock. The shares were sold at an average price of $9.77, for a total transaction of $82,790.98.
• On Monday, September 21st, Katie Colendich sold 7,436 shares of Asana stock. The shares were sold at an average price of $9.53, for a total value of $70,865.08.

Asana Trading Down 3.6%

Asana stock traded down $0.32 during mid-day trading on Friday, hitting $8.61. The stock had a trading volume of 4,079,746 shares, compared to its average volume of 6,214,354. The stock has a market capitalization of $1.97 billion, a PE ratio of -13.04 and a beta of 1.19. Asana, Inc. has a 12 month low of $5.38 and a 12 month high of $15.48. The stock has a 50-day simple moving average of $9.10 and a two-hundred day simple moving average of $7.60.

Asana (NYSE:ASAN) last issued its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The company had revenue of $216.43 million for the quarter, compared to analyst estimates of $214.15 million. During the same quarter last year, the firm earned $0.06 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. 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 fiscal year.

Hedge Funds Weigh In On Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in ASAN. Optiver Holding B.V. increased its position in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after buying an additional 5,002 shares in the last quarter. Performa Ltd US LLC lifted its holdings in Asana by 335.1% during the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock worth $40,000 after acquiring an additional 4,775 shares in the last quarter. Summit Securities Group LLC bought a new position in Asana during the first quarter worth about $53,000. Versant Capital Management Inc lifted its holdings in Asana by 39.7% during the third quarter. Versant Capital Management Inc now owns 8,443 shares of the company’s stock worth $71,000 after acquiring an additional 2,401 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Asana in the fourth quarter valued at about $132,000. 26.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ASAN. Piper Sandler upped their target price on shares of Asana from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. UBS Group lifted their price objective on Asana from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Citigroup reiterated a “market outperform” rating on shares of Asana in a report on Monday, August 24th. Robert W. Baird increased their target price on Asana from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Finally, Citizens Jmp restated a “market outperform” rating and set a $15.00 target price on shares of Asana in a report on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company 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, 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.