Asana (NYSE:ASAN) CFO Sells $337,781.32 in Stock

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 35,444 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $9.53, for a total value of $337,781.32. Following the sale, the chief financial officer directly owned 729,945 shares of the company’s stock, valued at approximately $6,956,375.85. This trade represents a 4.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 value of $29,854.24.

Asana Trading Down 1.3%

NYSE ASAN opened at $9.04 on Friday. The stock has a market cap of $2.07 billion, a PE ratio of -13.70 and a beta of 0.95. Asana, Inc. has a twelve month low of $5.38 and a twelve month high of $15.48. The stock has a fifty day simple moving average of $8.98 and a 200-day simple moving average of $7.56.

Asana (NYSE:ASAN) last issued its quarterly earnings data 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 firm had revenue of $216.43 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company 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. Research analysts predict that Asana, Inc. will post -0.53 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research note on Wednesday, August 5th. Morgan Stanley dropped their target price 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. Robert W. Baird boosted their target price on Asana from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Royal Bank Of Canada upped their price target on Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a research note on Friday, September 4th. Finally, Citigroup restated a “market outperform” rating on shares of Asana in a research note on Monday, August 24th. Four 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. According to data from MarketBeat.com, Asana currently has an average rating of “Hold” and an average price target of $9.95.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently bought and sold shares of ASAN. Jupiter Asset Management Ltd. lifted its position in shares of Asana by 705.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after purchasing an additional 1,204,232 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Asana by 92.6% in 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 holdings in shares of Asana by 250.4% in the first 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Asana during the 1st quarter worth approximately $1,016,000. Finally, Royal Bank of Canada increased its stake in Asana by 2,925.2% during 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 during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.