Aziz Megji Sells 3,224 Shares of Asana (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 3,224 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $9.26, for a total transaction of $29,854.24. Following the sale, the chief financial officer owned 726,721 shares of the company’s stock, valued at approximately $6,729,436.46. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Asana Stock Up 4.6%

Shares of NYSE ASAN traded up $0.41 during midday trading on Wednesday, hitting $9.49. The stock had a trading volume of 8,536,562 shares, compared to its average volume of 6,187,731. The business’s 50 day moving average is $8.89 and its 200-day moving average is $7.53. The company 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 52 week low of $5.38 and a 52 week high of $15.48.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 18.62% and a negative return on equity of 80.33%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $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. As a group, analysts expect that Asana, Inc. will post -0.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research lowered Asana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. KeyCorp lowered their price target on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Morgan Stanley dropped their price objective on Asana from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Friday, May 29th. UBS Group lifted their price objective on Asana from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $15.00 target price on shares of Asana in a research report on Friday, September 4th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.95.

Institutional Investors Weigh In On Asana

A number of large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC purchased a new stake in Asana during the 2nd quarter valued at $88,000. Integrated Wealth Concepts LLC purchased a new position in shares of Asana in the 2nd quarter worth $164,000. Squarepoint Ops LLC boosted its stake in shares of Asana by 108.3% in the 2nd 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 last quarter. Allworth Financial LP grew its holdings 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 during the period. Finally, Corient Private Wealth LP bought a new stake in shares of Asana in the second quarter worth $451,000. 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.