Asana (NYSE:ASAN) CFO Aziz Megji Sells 31,696 Shares of Stock

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 31,696 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $211,095.36. Following the transaction, the chief financial officer owned 778,628 shares in the company, valued at approximately $5,185,662.48. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Asana Stock Performance

Shares of NYSE:ASAN opened at $6.63 on Thursday. The business’s 50-day simple moving average is $6.80 and its 200 day simple moving average is $8.69. The company has a market cap of $1.53 billion, a P/E ratio of -9.62 and a beta of 1.02. Asana, Inc. has a one year low of $5.38 and a one year high of $15.71.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The company had revenue of $205.09 million during the quarter, compared to the consensus estimate of $203.58 million. During the same quarter last year, the company earned $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. Analysts predict that Asana, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank Of Canada upped their target price on Asana from $7.00 to $8.00 and gave the company a “sector perform” rating in a research report on Friday, May 29th. DA Davidson reaffirmed a “neutral” rating and set a $8.00 target price on shares of Asana in a report on Friday, May 29th. UBS Group reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Asana in a report on Friday, May 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a report on Friday, May 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $7.00 target price (down from $9.00) on shares of Asana in a research note on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus price target of $9.27.

Hedge Funds Weigh In On Asana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. grew its position in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after acquiring an additional 5,002 shares during the period. Bank of America Corp DE boosted its position in Asana by 92.6% during the first 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 period. Royal Bank of Canada boosted its position in Asana by 2,925.2% during the first quarter. Royal Bank of Canada now owns 180,634 shares of the company’s stock worth $1,157,000 after purchasing an additional 174,663 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Asana by 206.4% in the first quarter. Quantinno Capital Management LP now owns 158,588 shares of the company’s stock valued at $1,015,000 after purchasing an additional 106,836 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new position in shares of Asana in the first quarter valued at about $229,000. 26.21% of the stock is owned by institutional investors.

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.