Asana (NYSE:ASAN) CFO Sells $911,318.12 in Stock

Key Points

• Asana CFO, Sonalee Elizabeth Parekh, sold 63,374 shares of Asana stock for a total of $911,318.12, a transaction that decreased her ownership in the company by 5.56%.
• The company's latest earnings report indicated a loss of $0.20 EPS, missing analysts' expectations, although revenue increased by 9.9% year-over-year to $196.94 million.
• Asana's stock has experienced a recent price fluctuation, trading down to $14.17, while analysts maintain a consensus rating of "Hold" with an average target price of $16.10.

Asana, Inc. (NYSE:ASAN - Get Free Report) CFO Sonalee Elizabeth Parekh sold 63,374 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $14.38, for a total transaction of $911,318.12. Following the sale, the chief financial officer owned 1,076,693 shares of the company's stock, valued at approximately $15,482,845.34. This trade represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, September 22nd, Sonalee Elizabeth Parekh sold 194,976 shares of Asana stock. The stock was sold at an average price of $14.17, for a total transaction of $2,762,809.92.
• 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 Trading Down 0.3%

Shares of ASAN traded down $0.05 during trading hours on Wednesday, hitting $14.17. 1,987,507 shares of the stock were exchanged, compared to its average volume of 3,574,217. Asana, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $27.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50-day moving average of $14.19 and a 200-day moving average of $14.87. The firm has a market capitalization of $3.35 billion, a P/E ratio of -15.92 and a beta of 1.14.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership grew its holdings in shares of Asana by 104.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company's stock valued at $56,173,000 after buying an additional 2,126,683 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Asana by 8,850.6% during the first quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock worth $16,950,000 after purchasing an additional 1,151,369 shares during the last quarter. Marshall Wace LLP boosted its holdings in Asana by 594.9% during the second quarter. Marshall Wace LLP now owns 1,285,583 shares of the company's stock worth $17,355,000 after purchasing an additional 1,100,575 shares during the last quarter. Woodline Partners LP boosted its holdings in Asana by 700.1% during the first quarter. Woodline Partners LP now owns 688,713 shares of the company's stock worth $10,035,000 after purchasing an additional 602,638 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Asana during the first quarter worth about $8,419,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on ASAN. UBS Group increased their price objective on shares of Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Bank of America cut their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. Robert W. Baird increased their price objective on shares of Asana from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. JMP Securities reissued a "market outperform" rating and set a $22.00 price objective on shares of Asana in a research report on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Asana from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus 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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