Asana (NYSE:ASAN) CFO Sells $2,762,809.92 in Stock

Key Points

• Asana's CFO, Sonalee Elizabeth Parekh, sold 194,976 shares for approximately $2.76 million, representing a 14.60% decrease in her ownership of the stock.
• Asana's stock price closed at $14.17, with a 52-week range between $11.08 and $27.77, and currently holds a market capitalization of $3.35 billion.
• In its latest earnings report, Asana posted a loss of ($0.20) EPS, missing estimates, but revenue increased by 9.9% year-over-year, totaling $196.94 million.

Asana, Inc. (NYSE:ASAN - Get Free Report) CFO Sonalee Elizabeth Parekh sold 194,976 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $14.17, for a total value of $2,762,809.92. Following the completion of the sale, the chief financial officer owned 1,140,067 shares of the company's stock, valued at $16,154,749.39. The trade was a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, September 23rd, Sonalee Elizabeth Parekh sold 63,374 shares of Asana stock. The stock was sold at an average price of $14.38, for a total value of $911,318.12.
• On Tuesday, July 1st, Sonalee Elizabeth Parekh sold 1,884 shares of Asana stock. The stock was sold at an average price of $13.57, for a total transaction of $25,565.88.

Asana Stock Down 0.3%

NYSE ASAN traded down $0.05 during trading hours on Wednesday, hitting $14.17. The company's stock had a trading volume of 1,987,507 shares, compared to its average volume of 3,574,217. Asana, Inc. has a 52 week low of $11.08 and a 52 week high of $27.77. The company has a market capitalization of $3.35 billion, a PE ratio of -15.92 and a beta of 1.14. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16. The company's 50-day simple moving average is $14.19 and its two-hundred day simple moving average is $14.87.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.25). Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The company had revenue of $196.94 million for the quarter, compared to analysts' expectations of $193.01 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The company's revenue for the quarter was up 9.9% on a year-over-year basis. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. Research analysts anticipate that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Asana

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. bought a new stake in shares of Asana in the 4th quarter valued at about $352,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Asana by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company's stock valued at $937,000 after purchasing an additional 2,538 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Asana by 11.8% in the 4th quarter. Nuveen Asset Management LLC now owns 248,433 shares of the company's stock valued at $5,036,000 after purchasing an additional 26,165 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Asana by 47.4% in the 4th quarter. ProShare Advisors LLC now owns 23,652 shares of the company's stock valued at $479,000 after purchasing an additional 7,603 shares in the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of Asana in the 4th quarter valued at about $460,000. Institutional investors own 26.21% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. KeyCorp reaffirmed a "sector weight" rating on shares of Asana in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. JMP Securities reiterated a "market outperform" rating and issued a $22.00 target price on shares of Asana in a research note on Wednesday, June 4th. Morgan Stanley increased their price objective on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Thursday, September 4th. Finally, Scotiabank increased their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $16.10.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.

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