Asana (NYSE:ASAN) Director Sells $18,269,298.80 in Stock

Key Points

• Asana Director Justin Rosenstein sold 1,199,560 shares of Asana stock for a total of approximately $18.27 million, reducing his ownership by 43.53%.
• Asana's stock price recently fell to $13.59, down from a 1-year high of $27.77, and the company reported a negative earnings per share of ($0.20) for the latest quarter.
• Despite mixed analyst ratings, with some upgrading Asana to a buy and others maintaining a hold or sell rating, the average target price is set at $16.10.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 1,199,560 shares of Asana stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $15.23, for a total transaction of $18,269,298.80. Following the sale, the director owned 1,555,925 shares in the company, valued at approximately $23,696,737.75. This represents a 43.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Justin Rosenstein also recently made the following trade(s):

• On Wednesday, October 8th, Justin Rosenstein sold 454,913 shares of Asana stock. The shares were sold at an average price of $15.08, for a total value of $6,860,088.04.
• On Monday, July 28th, Justin Rosenstein sold 517,635 shares of Asana stock. The shares were sold at an average price of $15.04, for a total value of $7,785,230.40.
• On Friday, July 25th, Justin Rosenstein sold 223,894 shares of Asana stock. The shares were sold at an average price of $14.98, for a total value of $3,353,932.12.
• On Thursday, July 24th, Justin Rosenstein sold 115,936 shares of Asana stock. The stock was sold at an average price of $15.03, for a total value of $1,742,518.08.
• On Wednesday, July 23rd, Justin Rosenstein sold 729,228 shares of Asana stock. The stock was sold at an average price of $15.08, for a total value of $10,996,758.24.
• On Tuesday, July 22nd, Justin Rosenstein sold 966,576 shares of Asana stock. The stock was sold at an average price of $15.04, for a total value of $14,537,303.04.
• On Monday, July 21st, Justin Rosenstein sold 195,131 shares of Asana stock. The stock was sold at an average price of $15.01, for a total value of $2,928,916.31.
• On Friday, July 18th, Justin Rosenstein sold 226,600 shares of Asana stock. The stock was sold at an average price of $14.99, for a total value of $3,396,734.00.

Asana Stock Performance

ASAN traded down $1.60 on Friday, hitting $13.59. The company had a trading volume of 7,405,388 shares, compared to its average volume of 3,627,566. Asana, Inc. has a 1-year low of $11.58 and a 1-year high of $27.77. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -15.27 and a beta of 1.11. The company's fifty day moving average price is $13.99 and its 200 day moving average price is $14.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.41 and a quick ratio of 1.41.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.25). Asana had a negative net margin of 27.50% and a negative return on equity of 83.88%. The firm had revenue of $196.94 million for the quarter, compared to the consensus estimate of $193.01 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The business'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. Equities analysts predict that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ASAN shares. Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Asana in a research report on Wednesday. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 price objective on shares of Asana in a research report on Thursday, September 4th. Morgan Stanley raised their price objective on Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Thursday, September 4th. Finally, Robert W. Baird raised their price objective on Asana from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $16.10.

Hedge Funds Weigh In On Asana

Several hedge funds and other institutional investors have recently modified their holdings of ASAN. Vanguard Group Inc. grew its position in Asana by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock worth $155,261,000 after acquiring an additional 475,100 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Asana by 104.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company's stock worth $56,173,000 after buying an additional 2,126,683 shares during the period. Geode Capital Management LLC lifted its holdings in Asana by 13.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,153,811 shares of the company's stock worth $29,080,000 after buying an additional 263,601 shares during the period. Acadian Asset Management LLC lifted its holdings in Asana by 73.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,020,660 shares of the company's stock worth $27,256,000 after buying an additional 856,282 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Asana by 594.9% during the 2nd quarter. Marshall Wace LLP now owns 1,285,583 shares of the company's stock worth $17,355,000 after buying an additional 1,100,575 shares during the period. Institutional investors own 26.21% of the company's stock.

Asana Company Profile

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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