Asana (NYSE:ASAN) CFO Aziz Megji Sells 13,239 Shares

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 13,239 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $6.73, for a total value of $89,098.47. Following the sale, the chief financial officer directly owned 765,389 shares in the company, valued at $5,151,067.97. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aziz Megji also recently made the following trade(s):

• On Monday, June 22nd, Aziz Megji sold 31,696 shares of Asana stock. The shares were sold at an average price of $6.66, for a total value of $211,095.36.

Asana Stock Up 9.0%

Asana stock opened at $6.96 on Friday. The business’s 50-day moving average price is $6.84 and its 200 day moving average price is $8.62. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -10.09 and a beta of 1.02. Asana, Inc. has a 52 week low of $5.38 and a 52 week high of $15.71.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $205.09 million during the quarter, compared to the consensus estimate of $203.58 million. During the same period in the previous year, the company posted $0.05 earnings per share. Asana’s revenue for the quarter was up 9.5% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Equities analysts expect that Asana, Inc. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Asana in a report on Friday, May 29th. KeyCorp lowered their target price 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. Robert W. Baird dropped their target price on Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen raised Asana from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Finally, Royal Bank Of Canada increased their price target on Asana from $7.00 to $8.00 and gave the stock a “sector perform” rating in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Asana presently has an average rating of “Hold” and a consensus target price of $9.27.

Hedge Funds Weigh In On Asana

Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new position in Asana during the third quarter valued at $27,000. Optiver Holding B.V. increased its stake in shares of Asana by 2,008.8% during the first quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock worth $34,000 after purchasing an additional 5,002 shares in the last quarter. Performa Ltd US LLC raised 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 worth $40,000 after purchasing an additional 4,775 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Asana during the 4th quarter worth about $50,000. Finally, Summit Securities Group LLC purchased a new position in Asana in the 1st quarter valued at about $53,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.