Katie Marie Colendich Sells 8,474 Shares of Asana (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) insider Katie Colendich sold 8,474 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $9.77, for a total value of $82,790.98. Following the transaction, the insider owned 161,689 shares of the company’s stock, valued at $1,579,701.53. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Katie Marie Colendich also recently made the following trade(s):

• On Monday, September 21st, Katie Colendich sold 7,436 shares of Asana stock. The shares were sold at an average price of $9.53, for a total transaction of $70,865.08.
• On Friday, June 26th, Katie Colendich sold 5,242 shares of Asana stock. The shares were sold at an average price of $6.68, for a total transaction of $35,016.56.

Asana Stock Up 4.6%

Asana stock traded up $0.41 during midday trading on Wednesday, hitting $9.49. 8,536,562 shares of the stock were exchanged, compared to its average volume of 6,187,731. The stock has a market capitalization of $2.17 billion, a PE ratio of -14.39 and a beta of 0.95. The company has a fifty day simple moving average of $8.89 and a two-hundred day simple moving average of $7.53. Asana, Inc. has a 52 week low of $5.38 and a 52 week high of $15.48.

Asana (NYSE:ASAN) last issued its earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $216.43 million during the quarter, compared to the consensus estimate of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. As a group, equities research analysts anticipate that Asana, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its stake 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 acquiring an additional 1,969,657 shares in the last quarter. Bank of America Corp DE boosted its position in Asana by 92.6% during the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock worth $14,318,000 after acquiring an additional 1,075,572 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Asana by 12.9% during the 1st quarter. First Trust Advisors LP now owns 1,988,739 shares of the company’s stock worth $12,728,000 after acquiring an additional 227,204 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Asana by 705.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after acquiring an additional 1,204,232 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Asana by 108.3% in the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock valued at $6,217,000 after purchasing an additional 461,858 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ASAN. KeyCorp lowered their price objective on shares of Asana from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Morgan Stanley decreased their target price on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday, May 29th. Barclays cut Asana to an “outperform” rating in a research note on Monday, August 24th. UBS Group raised their price target on Asana from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Finally, Zacks Research cut Asana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Asana currently has an average rating of “Hold” and a consensus target price of $9.95.

About Asana

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana’s products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.