Insider Selling: Asana (NYSE:ASAN) CFO Sells 18,717 Shares of Stock

Asana, Inc. (NYSE:ASAN) CFO Sonalee Elizabeth Parekh sold 18,717 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $6.62, for a total transaction of $123,906.54. Following the transaction, the chief financial officer directly owned 915,281 shares in the company, valued at $6,059,160.22. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sonalee Elizabeth Parekh also recently made the following trade(s):

• On Friday, March 20th, Sonalee Elizabeth Parekh sold 34,151 shares of Asana stock. The shares were sold at an average price of $6.65, for a total transaction of $227,104.15.

Asana Stock Down 3.1%

Asana stock traded down $0.20 during mid-day trading on Wednesday, reaching $6.05. The company had a trading volume of 6,731,823 shares, compared to its average volume of 5,459,015. Asana, Inc. has a 52 week low of $5.96 and a 52 week high of $19.00. The company has a 50 day moving average of $8.42 and a 200-day moving average of $11.83. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -7.56 and a beta of 1.01.

Asana (NYSE:ASAN) last posted its quarterly earnings data 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. The company had revenue of $205.57 million for the quarter, compared to the consensus estimate of $205.13 million. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The business’s revenue was up 9.2% on a year-over-year basis. On average, analysts predict that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ASAN shares. Jefferies Financial Group lowered their price target on Asana from $15.00 to $8.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. DA Davidson decreased their price objective on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. HSBC set a $8.00 price objective on Asana in a research report on Friday, February 13th. UBS Group cut their target price on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada reduced their target price on Asana from $11.00 to $7.00 and set an “underperform” rating for the company in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Asana currently has an average rating of “Hold” and an average target price of $12.46.

Hedge Funds Weigh In On Asana

A number of hedge funds have recently modified their holdings of ASAN. FNY Investment Advisers LLC bought a new stake in Asana in the third quarter valued at $27,000. Farther Finance Advisors LLC boosted its stake in shares of Asana by 119.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock valued at $34,000 after purchasing an additional 1,391 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Asana by 137.7% in 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. Aster Capital Management DIFC Ltd acquired a new stake in shares of Asana during the 4th quarter worth about $50,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Asana by 64.0% during the 2nd 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 during the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

About Asana

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.