Insider Selling: Asana (NYSE:ASAN) CEO Sells $1,371,097.75 in Stock

Asana, Inc. (NYSE:ASAN) CEO Daniel Rogers sold 150,175 shares of Asana stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $9.13, for a total value of $1,371,097.75. Following the transaction, the chief executive officer directly owned 1,474,719 shares of the company’s stock, valued at $13,464,184.47. This trade represents a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 21st, Daniel Rogers sold 300,937 shares of Asana stock. The shares were sold at an average price of $9.53, for a total transaction of $2,867,929.61.
• On Thursday, August 27th, Daniel Rogers sold 1,655 shares of Asana stock. The shares were sold at an average price of $10.00, for a total transaction of $16,550.00.
• On Tuesday, June 30th, Daniel Rogers sold 13,790 shares of Asana stock. The shares were sold at an average price of $6.89, for a total transaction of $95,013.10.

Asana Trading Down 1.3%

Shares of ASAN opened at $9.04 on Friday. The stock has a market cap of $2.07 billion, a P/E ratio of -13.70 and a beta of 0.95. The company has a 50-day moving average of $8.98 and a two-hundred day moving average of $7.56. Asana, Inc. has a 12-month low of $5.38 and a 12-month high of $15.48.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 business had revenue of $216.43 million for the quarter, compared to analyst estimates of $214.15 million. During the same period in the prior year, the business earned $0.06 earnings per share. The company’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 forecast that Asana, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its position in Asana by 37.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock worth $45,979,000 after purchasing an additional 1,969,657 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Asana by 705.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after purchasing an additional 1,204,232 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Asana by 92.6% in the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after purchasing an additional 1,075,572 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Asana by 12.9% during the 1st quarter. First Trust Advisors LP now owns 1,988,739 shares of the company’s stock valued at $12,728,000 after buying an additional 227,204 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Asana by 108.3% during the 2nd quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock valued at $6,217,000 after buying an additional 461,858 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citizens Jmp reissued a “market outperform” rating and set a $15.00 price target on shares of Asana in a research report on Friday, September 4th. Royal Bank Of Canada boosted their price target on Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a report on Friday, September 4th. DA Davidson upped their price objective on Asana from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Wall Street Zen lowered Asana from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group lifted 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. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Asana presently has an average rating of “Hold” and an average 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.