Asana (NYSE:ASAN) Insider Katie Marie Colendich Sells 5,242 Shares

Key Points

• Insider selling continued at Asana: Katie Marie Colendich sold 5,242 shares on June 26 at an average price of $6.68, following two earlier sales in June. After the transaction, she still held 176,598 shares, but her ownership fell by 2.88%.
• ASAN shares were little changed: The stock dipped 0.2% to $6.99 in Tuesday trading, with volume below its average. Asana’s shares remain well below the 52-week high of $15.71 and above the low of $5.38.
• Results topped expectations, but sentiment is mixed: Asana recently reported quarterly EPS of $0.10 versus the $0.08 estimate, with revenue up 9.5% year over year to $205.09 million. Analysts currently rate the stock a consensus Hold, with an average price target of $9.27.

Asana, Inc. (NYSE:ASAN - Get Free Report) insider Katie Marie Colendich sold 5,242 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $6.68, for a total value of $35,016.56. Following the sale, the insider directly owned 176,598 shares in the company, valued at $1,179,674.64. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, June 24th, Katie Marie Colendich sold 8,337 shares of Asana stock. The shares were sold at an average price of $6.74, for a total value of $56,191.38.
• On Monday, June 22nd, Katie Marie Colendich sold 7,647 shares of Asana stock. The shares were sold at an average price of $6.66, for a total value of $50,929.02.

Asana Stock Down 0.2%

Shares of ASAN traded down $0.01 during mid-day trading on Tuesday, reaching $6.99. The company had a trading volume of 5,214,736 shares, compared to its average volume of 6,165,564. The stock has a market capitalization of $1.61 billion, a P/E ratio of -10.13 and a beta of 1.02. Asana, Inc. has a 52-week low of $5.38 and a 52-week high of $15.71. The stock has a 50 day moving average of $6.86 and a two-hundred day moving average of $8.52.

Asana (NYSE:ASAN - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The firm had revenue of $205.09 million during the quarter, compared to analyst estimates of $203.58 million. During the same period in the previous year, the firm earned $0.05 EPS. The business's quarterly revenue was up 9.5% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, sell-side analysts expect that Asana, Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Asana

Several institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its position in shares of Asana by 37.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company's stock worth $45,979,000 after purchasing an additional 1,969,657 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Asana by 705.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company's stock valued at $18,850,000 after buying an additional 1,204,232 shares in the last quarter. Bank of America Corp DE boosted its holdings in Asana by 92.6% in the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company's stock worth $14,318,000 after buying an additional 1,075,572 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Asana by 53.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company's stock worth $38,277,000 after buying an additional 977,107 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Asana by 35.1% during the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company's stock worth $36,375,000 after buying an additional 689,546 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on ASAN. Weiss Ratings restated a "sell (e+)" rating on shares of Asana in a research report on Friday, May 8th. Piper Sandler reiterated a "neutral" rating and set a $7.00 price target (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. Citigroup reissued a "market outperform" rating on shares of Asana in a report on Friday, May 29th. Citizens Jmp restated a "market outperform" rating and issued a $15.00 price objective on shares of Asana in a research report on Friday, May 29th. Finally, Robert W. Baird reduced their target price on Asana from $16.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $9.27.

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.

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