Veronica Sosa Sells 11,378 Shares of Asana (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CAO Veronica Sosa sold 11,378 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total value of $75,777.48. Following the sale, the chief accounting officer owned 62,344 shares of the company’s stock, valued at approximately $415,211.04. This trade represents a 15.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Asana Trading Down 0.5%

ASAN stock traded down $0.04 during midday trading on Wednesday, hitting $6.63. 3,405,849 shares of the company’s stock were exchanged, compared to its average volume of 6,137,649. The firm has a 50 day moving average price of $6.78 and a 200-day moving average price of $8.74. Asana, Inc. has a 12-month low of $5.38 and a 12-month high of $15.71. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -9.62 and a beta of 1.02.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $205.09 million during the quarter, compared to the consensus estimate of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, sell-side analysts forecast that Asana, Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Asana

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Asana by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company’s stock valued at $180,606,000 after acquiring an additional 48,847 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Asana by 37.8% during the 1st 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 period. Goldman Sachs Group Inc. raised its position in shares of Asana by 53.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock worth $38,277,000 after purchasing an additional 977,107 shares during the period. Marshall Wace LLP lifted its holdings in shares of Asana by 35.1% in the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock worth $36,375,000 after purchasing an additional 689,546 shares during the last quarter. Finally, Bank of America Corp DE lifted 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 worth $14,318,000 after purchasing an additional 1,075,572 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ASAN. KeyCorp decreased their price target on Asana from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Piper Sandler reiterated a “neutral” rating and issued a $7.00 target price (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. Morgan Stanley dropped their price target on Asana from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Friday, May 29th. Citizens Jmp restated a “market outperform” rating and set a $15.00 price objective on shares of Asana in a research note on Friday, May 29th. Finally, Wall Street Zen raised shares of Asana from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.27.

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.