Insider Selling: Asana (NYSE:ASAN) Insider Sells $56,191.38 in Stock

Asana, Inc. (NYSE:ASAN) insider Katie Marie Colendich sold 8,337 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $6.74, for a total transaction of $56,191.38. Following the completion of the sale, the insider directly owned 181,840 shares of the company’s stock, valued at $1,225,601.60. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, June 22nd, Katie Marie Colendich sold 7,647 shares of Asana stock. The shares were sold at an average price of $6.66, for a total value of $50,929.02.

Asana Trading Up 9.0%

Shares of NYSE:ASAN opened at $6.96 on Friday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -10.09 and a beta of 1.02. The stock’s 50-day moving average price is $6.84 and its 200-day moving average price is $8.62. Asana, Inc. has a 12-month low of $5.38 and a 12-month high of $15.71.

Asana (NYSE:ASAN) last released its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $205.09 million during the quarter, compared to analyst estimates of $203.58 million. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.Asana’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. 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, research analysts predict that Asana, Inc. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its position in shares of 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 buying an additional 1,969,657 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings 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 valued at $18,850,000 after acquiring an additional 1,204,232 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Asana by 92.6% during 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 acquiring an additional 1,075,572 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Asana by 53.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock worth $38,277,000 after acquiring an additional 977,107 shares during the period. Finally, Marshall Wace LLP lifted its stake in Asana by 35.1% in the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock worth $36,375,000 after acquiring an additional 689,546 shares during the period. Institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ASAN shares. DA Davidson reissued a “neutral” rating and set a $8.00 price objective on shares of Asana in a research note on Friday, May 29th. KeyCorp cut their target price on shares of Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of Asana in a research note on Friday, May 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a report on Friday, May 8th. Finally, UBS Group reissued a “neutral” rating and set a $8.00 price target on shares of Asana in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.27.

Asana Company Profile

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.