Asana (NYSE:ASAN) CEO Sells $1,371,097.75 in Stock

Key Points

• Asana CEO Daniel Rogers sold 150,175 shares at an average price of $9.13, generating approximately $1.37 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 1.47 million shares.
• Asana shares recently traded at $9.49, with a market capitalization of about $2.17 billion and a 52-week range of $5.38 to $15.48. The company’s latest quarterly results exceeded analyst expectations, with revenue up 9.9% year over year.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $9.95; institutional investors own approximately 26.21% of the company.

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Daniel Rogers sold 150,175 shares of the business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $9.13, for a total transaction of $1,371,097.75. Following the transaction, the chief executive officer directly owned 1,474,719 shares of the company's stock, valued at approximately $13,464,184.47. This represents a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Mark Rogers also recently made the following trade(s):

• On Monday, September 21st, Daniel Rogers sold 300,937 shares of Asana stock. The shares were sold at an average price of $9.53, for a total transaction of $2,867,929.61.
• On Thursday, August 27th, Daniel Rogers sold 1,655 shares of Asana stock. The shares were sold at an average price of $10.00, for a total value of $16,550.00.
• On Tuesday, June 30th, Daniel Rogers sold 13,790 shares of Asana stock. The stock was sold at an average price of $6.89, for a total value of $95,013.10.

Asana Price Performance

Shares of NYSE ASAN traded up $0.41 during trading hours on Wednesday, hitting $9.49. 8,536,562 shares of the company's stock were exchanged, compared to its average volume of 6,187,731. Asana, Inc. has a 1-year low of $5.38 and a 1-year high of $15.48. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -14.39 and a beta of 0.95. The company's 50-day moving average price is $8.89 and its 200-day moving average price is $7.53.

Asana (NYSE:ASAN - Get Free Report) last released its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $216.43 million for the quarter, compared to analyst estimates of $214.15 million. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%.The company's revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. On average, research analysts expect that Asana, Inc. will post -0.53 earnings per share for the current year.

Institutional Trading of Asana

Several institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Asana in the second quarter valued at $88,000. Integrated Wealth Concepts LLC acquired a new stake in Asana during the second quarter worth $164,000. Squarepoint Ops LLC boosted its stake in Asana by 108.3% during the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company's stock worth $6,217,000 after buying an additional 461,858 shares in the last quarter. Allworth Financial LP increased its holdings in Asana by 193.4% in the 2nd quarter. Allworth Financial LP now owns 13,195 shares of the company's stock valued at $92,000 after buying an additional 8,698 shares during the period. Finally, Corient Private Wealth LP bought a new stake in Asana in the 2nd quarter valued at $451,000. Institutional investors and hedge funds own 26.21% of the company's stock.

Analysts Set New Price Targets

ASAN has been the topic of several research analyst reports. Citizens Jmp restated a "market outperform" rating and issued a $15.00 price objective on shares of Asana in a research note on Friday, September 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Asana in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their price target on shares of Asana from $8.00 to $9.50 and gave the company a "sector perform" rating in a report on Friday, September 4th. Barclays lowered shares of Asana to an "outperform" rating in a research report on Monday, August 24th. Finally, Robert W. Baird boosted their price objective on shares of Asana from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, September 4th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $9.95.

About Asana

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana's products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.

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