Asana (NYSE:ASAN) CAO Sells $43,085.35 in Stock

Asana, Inc. (NYSE:ASAN) CAO Veronica Sosa sold 6,479 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $43,085.35. Following the transaction, the chief accounting officer directly owned 73,722 shares of the company’s stock, valued at $490,251.30. This trade represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Asana Stock Up 0.1%

Shares of Asana stock opened at $6.19 on Friday. Asana, Inc. has a 12-month low of $5.87 and a 12-month high of $19.00. The stock has a market cap of $1.47 billion, a P/E ratio of -7.73 and a beta of 1.01. The business’s 50 day moving average is $8.11 and its 200-day moving average is $11.69.

Asana (NYSE:ASAN) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $205.57 million during the quarter, compared to the consensus estimate of $205.13 million. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The business’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Asana in a research report on Monday, December 29th. Royal Bank Of Canada dropped their target price on shares of Asana from $11.00 to $7.00 and set an “underperform” rating on the stock in a report on Tuesday, March 3rd. Jefferies Financial Group reduced their price target on Asana from $15.00 to $8.00 and set a “hold” rating for the company in a report on Monday, February 23rd. BTIG Research initiated coverage on Asana in a research report on Tuesday, December 16th. They set a “neutral” rating on the stock. Finally, Piper Sandler cut their price objective on Asana from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.46.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of Asana during the third quarter worth $27,000. Farther Finance Advisors LLC increased its holdings in shares of Asana by 119.7% during the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock worth $34,000 after purchasing an additional 1,391 shares during the period. Jones Financial Companies Lllp raised its position in shares of Asana by 137.7% in the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after buying an additional 1,427 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Asana in the fourth quarter valued at approximately $50,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after buying an additional 1,706 shares during the period. 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.