Insider Selling: Asana (NYSE:ASAN) CEO Sells $16,550.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Daniel Mark Rogers sold 1,655 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $10.00, for a total value of $16,550.00. Following the completion of the sale, the chief executive officer directly owned 1,925,831 shares in the company, valued at approximately $19,258,310. The trade was a 0.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Mark Rogers also recently made the following trade(s):

• On Tuesday, June 30th, Daniel Mark Rogers sold 13,790 shares of Asana stock. The stock was sold at an average price of $6.89, for a total value of $95,013.10.
• On Monday, June 22nd, Daniel Mark Rogers sold 26,975 shares of Asana stock. The stock was sold at an average price of $6.66, for a total value of $179,653.50.

Asana Stock Performance

Shares of NYSE ASAN traded up $0.06 during trading on Friday, reaching $10.23. The stock had a trading volume of 3,991,390 shares, compared to its average volume of 5,862,563. Asana, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $15.71. The business’s 50-day moving average price is $8.06 and its 200-day moving average price is $7.28. The company has a market cap of $2.36 billion, a P/E ratio of -14.83 and a beta of 0.93.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $203.58 million. During the same quarter in the prior year, the company earned $0.05 EPS. Asana’s revenue was up 9.5% on a year-over-year basis. Analysts forecast that Asana, Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. KeyCorp cut their price target on shares of Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Royal Bank Of Canada raised their price objective on shares of Asana from $7.00 to $8.00 and gave the company a “sector perform” rating in a research note on Friday, May 29th. DA Davidson restated a “neutral” rating and issued a $8.00 price objective on shares of Asana in a report on Friday, May 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $15.00 target price on shares of Asana in a research note on Tuesday, July 7th. Finally, Barclays lowered shares of Asana to an “outperform” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.27.

Hedge Funds Weigh In On Asana

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LP acquired a new position in shares of Asana during the second quarter worth about $451,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Asana during the 2nd quarter worth $415,000. California State Teachers Retirement System lifted its position in shares of Asana by 874.2% during the 2nd quarter. California State Teachers Retirement System now owns 764,533 shares of the company’s stock worth $5,352,000 after purchasing an additional 686,051 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Asana during the second quarter worth $71,000. Finally, Handelsbanken Fonder AB grew its stake in shares of Asana by 41.8% during the second quarter. Handelsbanken Fonder AB now owns 32,900 shares of the company’s stock worth $230,000 after purchasing an additional 9,700 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.