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

Asana, Inc. (NYSE:ASAN) CAO Veronica Sosa sold 6,479 shares of Asana stock in a transaction on Friday, March 20th. The stock was sold at an average price of $6.65, for a total transaction 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. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Asana Stock Down 5.7%

ASAN stock opened at $6.24 on Wednesday. Asana, Inc. has a twelve month low of $6.16 and a twelve month high of $19.00. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -7.79 and a beta of 1.01. The firm’s fifty day simple moving average is $8.42 and its two-hundred day simple moving average is $11.83.

Asana (NYSE:ASAN) last released its earnings results on Monday, March 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The firm had revenue of $205.57 million during the quarter, compared to analyst estimates of $205.13 million. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Hedge Funds Weigh In On Asana

A number of large investors have recently bought and sold shares of ASAN. FNY Investment Advisers LLC bought a new stake in Asana during the 3rd quarter valued at $27,000. Jones Financial Companies Lllp lifted its stake in shares of Asana by 137.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock worth $34,000 after purchasing an additional 1,427 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Asana by 119.7% during the 3rd 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 last quarter. Aster Capital Management DIFC Ltd bought a new stake in Asana during the fourth quarter valued at about $50,000. Finally, Daiwa Securities Group Inc. boosted its position in Asana by 64.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after purchasing an additional 1,706 shares in the last quarter. Institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup cut their target price on Asana from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. UBS Group dropped their price objective on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Wall Street Zen raised Asana from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Robert W. Baird reduced their target price on Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Finally, Piper Sandler decreased their target price 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 research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Asana currently has an average rating of “Hold” and an average price target of $12.46.

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.