Asana (NYSE:ASAN) CEO Sells $226,667.52 in Stock

Key Points

• CEO Daniel Rogers sold 19,676 Asana shares for $226,667.52 at an average price of $11.52 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 1.35% to 1,437,022 shares.
• Asana shares traded at $12.06, with the stock up from its 50-day and 200-day moving averages but still reporting a negative net margin and negative return on equity.
• Analyst sentiment remained mixed, with a consensus “Hold” rating and $9.95 target price; recent quarterly revenue reached $216.43 million and EPS of $0.10 exceeded estimates.

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Daniel Rogers sold 19,676 shares of the business's stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $11.52, for a total value of $226,667.52. Following the sale, the chief executive officer owned 1,437,022 shares in the company, valued at approximately $16,554,493.44. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 9th, Daniel Rogers sold 18,021 shares of Asana stock. The shares were sold at an average price of $10.04, for a total value of $180,930.84.
• On Tuesday, September 22nd, Daniel Rogers sold 150,175 shares of Asana stock. The shares were sold at an average price of $9.13, for a total value of $1,371,097.75.
• On Monday, September 21st, Daniel Rogers sold 300,937 shares of Asana stock. The stock was 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 transaction of $16,550.00.

Asana Stock Performance

NYSE ASAN traded up $0.56 during trading hours on Friday, reaching $12.06. The company's stock had a trading volume of 4,630,895 shares, compared to its average volume of 6,086,267. The company's 50-day moving average is $9.52 and its two-hundred day moving average is $7.98. Asana, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $15.28. The stock has a market cap of $2.76 billion, a PE ratio of -18.28 and a beta of 1.19.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its holdings in shares of Asana by 801.8% during the 3rd quarter. Sterling Capital Management LLC now owns 3,084 shares of the company's stock worth $26,000 after acquiring an additional 2,742 shares during the period. Sawyer & Company Inc purchased a new stake in Asana in the third quarter valued at approximately $91,000. Retirement Planning Co of New England Inc. grew its holdings in Asana by 7.6% in the third quarter. Retirement Planning Co of New England Inc. now owns 30,994 shares of the company's stock valued at $261,000 after purchasing an additional 2,187 shares during the period. State of Alaska Department of Revenue purchased a new stake in Asana in the third quarter valued at approximately $69,000. Finally, Versant Capital Management Inc increased its position in Asana by 39.7% during the third quarter. Versant Capital Management Inc now owns 8,443 shares of the company's stock worth $71,000 after purchasing an additional 2,401 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a report on Sunday, October 4th. Piper Sandler boosted their price target on Asana from $7.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, September 4th. UBS Group restated a "neutral" rating on shares of Asana in a research report on Friday, October 16th. DA Davidson upped their price objective on Asana from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, September 4th. Finally, Zacks Research lowered Asana from a "hold" rating to a "strong sell" rating in a research note on Friday, October 9th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $9.95.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and ongoing business processes. Its platform is designed to provide teams with a shared view of work, responsibilities, deadlines and progress across departments and functions.

Asana's products include tools for project and task management, workflow coordination, goals, portfolios, reporting and team collaboration. The platform also incorporates automation and artificial intelligence features intended to help users organize work, streamline recurring processes and gain visibility into organizational priorities.

The company was founded in 2008 by Dustin Moskovitz, a co-founder of Facebook, and Justin Rosenstein, a former Facebook and Google executive.

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