Insider Selling: Asana (NYSE:ASAN) Insider Sells $54,650.70 in Stock

Asana, Inc. (NYSE:ASAN) insider Katie Colendich sold 6,318 shares of Asana stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $8.65, for a total value of $54,650.70. Following the completion of the transaction, the insider owned 155,371 shares in the company, valued at $1,343,959.15. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Katie Marie Colendich also recently made the following trade(s):

• On Tuesday, September 22nd, Katie Colendich sold 8,474 shares of Asana stock. The shares were sold at an average price of $9.77, for a total transaction of $82,790.98.
• On Monday, September 21st, Katie Colendich sold 7,436 shares of Asana stock. The shares were sold at an average price of $9.53, for a total transaction of $70,865.08.

Asana Stock Down 0.2%

Shares of Asana stock opened at $8.61 on Monday. The firm’s 50 day moving average price is $9.13 and its 200-day moving average price is $7.61. Asana, Inc. has a 52-week low of $5.38 and a 52-week high of $15.48. The company has a market cap of $1.97 billion, a P/E ratio of -13.04 and a beta of 1.19.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $216.43 million during the quarter, compared to analysts’ expectations of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. Asana’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. 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, equities research analysts forecast that Asana, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in Asana by 39.7% in the third quarter. Versant Capital Management Inc now owns 8,443 shares of the company’s stock valued at $71,000 after purchasing an additional 2,401 shares during the period. Blue Trust Inc. raised its stake in shares of Asana by 13.9% during the 1st quarter. Blue Trust Inc. now owns 33,716 shares of the company’s stock worth $216,000 after buying an additional 4,117 shares during the period. 180 Wealth Advisors LLC raised its stake in shares of Asana by 20.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 27,637 shares of the company’s stock worth $193,000 after buying an additional 4,655 shares during the period. Performa Ltd US LLC lifted its position in shares of Asana by 335.1% during the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after buying an additional 4,775 shares in the last quarter. Finally, Optiver Holding B.V. lifted its position in shares of Asana by 2,008.8% during the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after buying an additional 5,002 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Asana from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Citigroup reaffirmed a “market outperform” rating on shares of Asana in a research report on Monday, August 24th. Zacks Research cut Asana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. BTIG Research reissued a “neutral” rating on shares of Asana in a report on Friday, September 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a report on Wednesday, August 5th. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.95.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks, goals and business processes. Its platform provides tools for assigning and tracking work, managing timelines and dependencies, communicating about projects, and monitoring progress across teams and departments.

Asana’s products support a range of use cases, including project and portfolio management, workflow automation, strategic planning, marketing campaigns, product development and employee onboarding.