Asana (NYSE:ASAN) Insider Sells $54,195.68 in Stock

Asana, Inc. (NYSE:ASAN) insider Katie Marie Colendich sold 7,304 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the transaction, the insider owned 108,214 shares in the company, valued at $802,947.88. This trade represents a 6.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Asana Trading Up 2.4%

NYSE:ASAN opened at $7.02 on Friday. Asana, Inc. has a 52 week low of $6.51 and a 52 week high of $19.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.40 and a current ratio of 1.40. The firm’s fifty day moving average is $9.30 and its 200-day moving average is $12.22. The firm has a market cap of $1.66 billion, a P/E ratio of -8.77 and a beta of 1.01.

Asana (NYSE:ASAN) last announced its earnings results on Monday, March 2nd. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $205.57 million during 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 71.50%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts expect that Asana, Inc. will post -1.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup dropped their price objective on Asana from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. DA Davidson decreased their target price on Asana from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Jefferies Financial Group lowered their target price on Asana from $15.00 to $8.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Asana in a research note on Monday, December 29th. Finally, Morgan Stanley cut their price target on Asana from $14.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.46.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new stake in shares of Asana in the 3rd quarter valued at about $27,000. Farther Finance Advisors LLC raised its stake in 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 buying an additional 1,391 shares during the period. Jones Financial Companies Lllp boosted its holdings in Asana by 137.7% in the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock worth $34,000 after acquiring an additional 1,427 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Asana in the fourth quarter worth approximately $50,000. Finally, Daiwa Securities Group Inc. grew its stake in Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after acquiring an additional 1,706 shares during the period. Institutional investors own 26.21% of the company’s stock.

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.