Asana (NYSE:ASAN) Insider Sells $82,790.98 in Stock

Asana, Inc. (NYSE:ASAN) insider Katie Colendich sold 8,474 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $9.77, for a total transaction of $82,790.98. Following the completion of the sale, the insider owned 161,689 shares in the company, valued at $1,579,701.53. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 21st, Katie Colendich sold 7,436 shares of Asana stock. The stock was sold at an average price of $9.53, for a total value of $70,865.08.
• On Friday, June 26th, Katie Colendich sold 5,242 shares of Asana stock. The shares were sold at an average price of $6.68, for a total value of $35,016.56.

Asana Stock Down 1.3%

Asana stock opened at $9.04 on Friday. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -13.70 and a beta of 0.95. The business has a 50-day simple moving average of $8.98 and a 200 day simple moving average of $7.56. Asana, Inc. has a 52 week low of $5.38 and a 52 week 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 for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $216.43 million for 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%.The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $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. On average, research analysts anticipate that Asana, Inc. will post -0.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $15.00 target price on shares of Asana in a research report on Friday, September 4th. Zacks Research lowered shares of Asana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Royal Bank Of Canada raised their price objective on shares of Asana from $8.00 to $9.50 and gave the company a “sector perform” rating in a research report on Friday, September 4th. Morgan Stanley dropped their price objective on shares of Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, May 29th. Finally, Piper Sandler increased their target price on Asana from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Asana presently has an average rating of “Hold” and a consensus price target of $9.95.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC bought a new stake in shares of Asana in the 2nd quarter worth approximately $88,000. Integrated Wealth Concepts LLC bought a new position in shares of Asana during the second quarter valued at approximately $164,000. Squarepoint Ops LLC raised 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 acquiring an additional 461,858 shares in the last quarter. Allworth Financial LP lifted its stake in 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 during the period. Finally, Corient Private Wealth LP purchased a new stake in Asana in the second quarter worth $451,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.