Asana (NYSE:ASAN) Insider Katie Marie Colendich Sells 7,436 Shares

Asana, Inc. (NYSE:ASAN) insider Katie Colendich sold 7,436 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $9.53, for a total value of $70,865.08. Following the transaction, the insider directly owned 170,163 shares in the company, valued at approximately $1,621,653.39. This represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 Tuesday, September 22nd, Katie Colendich sold 8,474 shares of Asana stock. The stock was sold at an average price of $9.77, for a total value of $82,790.98.
• On Friday, June 26th, Katie Colendich sold 5,242 shares of Asana stock. The stock was sold at an average price of $6.68, for a total value of $35,016.56.

Asana Price Performance

NYSE ASAN traded up $0.41 on Wednesday, reaching $9.49. 8,536,562 shares of the company’s stock traded hands, compared to its average volume of 6,187,731. Asana, Inc. has a 12 month low of $5.38 and a 12 month high of $15.48. The stock has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $7.53. The stock has a market cap of $2.17 billion, a PE ratio of -14.39 and a beta of 0.95.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. During the same period in the previous year, the business posted $0.06 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. 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 anticipate that Asana, Inc. will post -0.53 EPS for the current year.

Institutional Trading of Asana

Several large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC purchased a new position in Asana during the 2nd quarter valued at about $88,000. Integrated Wealth Concepts LLC purchased a new stake in Asana in the 2nd quarter worth approximately $164,000. Squarepoint Ops LLC lifted its holdings in 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 period. Allworth Financial LP grew its position in shares of Asana by 193.4% in the 2nd quarter. Allworth Financial LP now owns 13,195 shares of the company’s stock worth $92,000 after buying an additional 8,698 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in shares of Asana in the 2nd quarter worth approximately $451,000. 26.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ASAN. Citigroup reissued a “market outperform” rating on shares of Asana in a research note on Monday, August 24th. Royal Bank Of Canada lifted their price objective on Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a report on Friday, September 4th. 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 note on Friday, September 4th. BTIG Research restated a “neutral” rating on shares of Asana in a report on Friday, September 4th. Finally, KeyCorp reduced their price target on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.95.

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.