Insider Selling: Asana (NYSE:ASAN) CFO Sells 31,696 Shares of Stock

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 31,696 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $211,095.36. Following the completion of the sale, the chief financial officer directly owned 778,628 shares of the company’s stock, valued at approximately $5,185,662.48. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Asana Price Performance

Shares of NYSE ASAN traded down $0.04 during mid-day trading on Wednesday, reaching $6.63. 3,405,849 shares of the company traded hands, compared to its average volume of 6,137,649. Asana, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $15.71. The firm has a market cap of $1.53 billion, a PE ratio of -9.62 and a beta of 1.02. The stock has a fifty day simple moving average of $6.78 and a 200-day simple moving average of $8.74.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The firm had revenue of $205.09 million during the quarter, compared to analyst estimates of $203.58 million. During the same period last year, the company posted $0.05 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, analysts predict that Asana, Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ASAN. Wall Street Zen raised shares of Asana from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Robert W. Baird reduced their target price on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. DA Davidson reiterated a “neutral” rating and set a $8.00 price target on shares of Asana in a report on Friday, May 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research note on Friday, May 8th. Finally, Morgan Stanley decreased their price objective on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Asana presently has an average rating of “Hold” and an average target price of $9.27.

Hedge Funds Weigh In On Asana

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Asana by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company’s stock worth $180,606,000 after acquiring an additional 48,847 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Asana by 37.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock worth $45,979,000 after purchasing an additional 1,969,657 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Asana by 53.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock worth $38,277,000 after purchasing an additional 977,107 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Asana by 35.1% during the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock worth $36,375,000 after purchasing an additional 689,546 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Asana by 92.6% during the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after buying an additional 1,075,572 shares during the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

About Asana

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.