Asana (NYSE:ASAN) CFO Aziz Megji Sells 3,224 Shares

Key Points

• Asana CFO Aziz Megji sold 3,224 shares at an average price of $9.26, generating approximately $29,854. The sale covered tax-withholding obligations tied to vested equity awards, and he retained 726,721 shares.
• Asana shares traded around $9.49, while the company recently reported quarterly revenue of $216.43 million and EPS of $0.10, exceeding analyst estimates. Revenue increased 9.9% year over year, though the company remained unprofitable.
• Analysts maintain a generally cautious view, with the stock holding an average “Hold” rating and an average price target of $9.95; institutional investors own 26.21% of Asana’s shares.

Asana, Inc. (NYSE:ASAN - Get Free Report) CFO Aziz Megji sold 3,224 shares of the firm's stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $9.26, for a total transaction of $29,854.24. Following the completion of the sale, the chief financial officer directly owned 726,721 shares of the company's stock, valued at approximately $6,729,436.46. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Asana Stock Performance

Shares of NYSE ASAN traded up $0.41 during midday trading on Wednesday, hitting $9.49. 8,536,562 shares of the company traded hands, compared to its average volume of 6,187,731. Asana, Inc. has a 12-month low of $5.38 and a 12-month high of $15.48. The stock has a 50-day moving average price of $8.89 and a 200 day moving average price of $7.53. The firm has a market cap of $2.17 billion, a P/E ratio of -14.39 and a beta of 0.95.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. Asana's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $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. As a group, equities analysts expect that Asana, Inc. will post -0.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup restated a "market outperform" rating on shares of Asana in a research report on Monday, August 24th. Royal Bank Of Canada raised their price objective on Asana from $8.00 to $9.50 and gave the company a "sector perform" rating in a research report on Friday, September 4th. Piper Sandler boosted their target price on shares of Asana from $7.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, September 4th. UBS Group upped their target price on shares of Asana from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, September 4th. Finally, DA Davidson increased their price target on shares of Asana from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Optiver Holding B.V. raised its stake in Asana by 2,008.8% during the first quarter. Optiver Holding B.V. now owns 5,251 shares of the company's stock valued at $34,000 after buying an additional 5,002 shares during the last quarter. Performa Ltd US LLC grew its stake in shares of Asana by 335.1% in the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company's stock worth $40,000 after acquiring an additional 4,775 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Asana during the first quarter valued at $53,000. HB Wealth Management LLC bought a new position in shares of Asana during the second quarter valued at $71,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Asana during the second quarter valued at $88,000. Institutional investors own 26.21% of the company's stock.

Asana Company Profile

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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