Asana (NYSE:ASAN) CFO Sonalee Elizabeth Parekh Sells 18,717 Shares

Asana, Inc. (NYSE:ASAN) CFO Sonalee Elizabeth Parekh sold 18,717 shares of Asana stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $6.62, for a total transaction of $123,906.54. Following the completion of the transaction, the chief financial officer owned 915,281 shares of the company’s stock, valued at $6,059,160.22. This trade represents a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Sonalee Elizabeth Parekh also recently made the following trade(s):

• On Friday, March 20th, Sonalee Elizabeth Parekh sold 34,151 shares of Asana stock. The stock was sold at an average price of $6.65, for a total value of $227,104.15.

Asana Stock Down 3.1%

ASAN traded down $0.20 during trading on Wednesday, hitting $6.05. The company’s stock had a trading volume of 6,731,823 shares, compared to its average volume of 5,459,015. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -7.56 and a beta of 1.01. The firm’s 50 day moving average price is $8.42 and its two-hundred day moving average price is $11.83. Asana, Inc. has a 12 month low of $5.96 and a 12 month high of $19.00.

Asana (NYSE:ASAN) last announced its earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The company had revenue of $205.57 million for the quarter, compared to analysts’ expectations of $205.13 million. The company’s revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts forecast that Asana, Inc. will post -1.09 earnings per share for the current year.

Hedge Funds Weigh In On Asana

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new position in Asana in the third quarter valued at approximately $27,000. Jones Financial Companies Lllp raised its position in shares of Asana by 137.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after acquiring an additional 1,427 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Asana by 119.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock valued at $34,000 after purchasing an additional 1,391 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Asana in the 4th quarter worth $50,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after purchasing an additional 1,706 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. DA Davidson decreased their price objective on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Piper Sandler lowered their target price on Asana from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Jefferies Financial Group dropped their target price on Asana from $15.00 to $8.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Asana in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Asana has a consensus rating of “Hold” and a consensus target price of $12.46.

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.