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

Asana, Inc. (NYSE:ASAN) CFO Aziz Megji sold 13,239 shares of Asana stock in a transaction that occurred on 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. The trade was a 1.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $6.66, for a total value of $211,095.36.

Asana Stock Up 9.0%

ASAN traded up $0.57 during trading on Friday, reaching $6.96. 11,321,176 shares of the company’s stock were exchanged, compared to its average volume of 6,174,618. The company has a market capitalization of $1.61 billion, a P/E ratio of -10.09 and a beta of 1.02. The business has a 50 day moving average price of $6.82 and a 200 day moving average price of $8.63. Asana, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $15.71.

Asana (NYSE:ASAN) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, research analysts forecast that Asana, Inc. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ASAN. Citigroup reiterated a “market outperform” rating on shares of Asana in a research note on Friday, May 29th. UBS Group reiterated a “neutral” rating and set a $8.00 price objective on shares of Asana in a research note on Friday, May 29th. KeyCorp reduced 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. Morgan Stanley lowered their target price on shares of Asana from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Friday, May 29th. Finally, Robert W. Baird dropped their target price on shares of Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Asana has a consensus rating of “Hold” and an average price target of $9.27.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in Asana by 37.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock valued at $45,979,000 after purchasing an additional 1,969,657 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Asana by 705.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after purchasing an additional 1,204,232 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Asana by 92.6% in the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after buying an additional 1,075,572 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Asana by 53.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after buying an additional 977,107 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Asana by 35.1% in the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock valued at $36,375,000 after buying an additional 689,546 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.