Asana (NYSE:ASAN) Insider Sells $54,650.70 in Stock

Key Points

• Asana insider Katie Colendich sold 6,318 shares for $54,650.70 at an average price of $8.65, reducing her holdings by 3.91% to 155,371 shares. She also sold shares in two earlier September transactions.
• Asana shares recently traded at $8.61, with a market capitalization of approximately $1.97 billion and a 52-week range of $5.38 to $15.48.
• The company slightly exceeded quarterly earnings and revenue expectations, but analysts maintain a consensus “Hold” rating with a $9.95 target price; Asana remains unprofitable, with a negative net margin of 18.62%.

Asana, Inc. (NYSE:ASAN - Get Free Report) insider Katie Colendich sold 6,318 shares of the company's stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $8.65, for a total value of $54,650.70. Following the sale, the insider owned 155,371 shares of the company's stock, valued at approximately $1,343,959.15. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, September 22nd, Katie Colendich sold 8,474 shares of Asana stock. The stock was sold at an average price of $9.77, for a total value of $82,790.98.
• On Monday, September 21st, Katie Colendich sold 7,436 shares of Asana stock. The shares were sold at an average price of $9.53, for a total transaction of $70,865.08.

Asana Stock Performance

Shares of Asana stock traded down $0.32 on Friday, reaching $8.61. The stock had a trading volume of 4,079,746 shares, compared to its average volume of 6,214,354. The business's 50-day moving average price is $9.10 and its two-hundred day moving average price is $7.60. Asana, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $15.48. The stock has a market cap of $1.97 billion, a P/E ratio of -13.04 and a beta of 1.19.

Asana (NYSE:ASAN - Get Free Report) last posted 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 business had revenue of $216.43 million for 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 revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business 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. As a group, equities analysts forecast that Asana, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently bought and sold shares of ASAN. Versant Capital Management Inc raised its position in Asana by 39.7% in the 3rd quarter. Versant Capital Management Inc now owns 8,443 shares of the company's stock valued at $71,000 after purchasing an additional 2,401 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Asana during the second quarter worth $88,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Asana in the second quarter valued at $164,000. Squarepoint Ops LLC increased its stake in shares of Asana by 108.3% in the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company's stock valued at $6,217,000 after buying an additional 461,858 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Asana by 193.4% in the second 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 last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird increased their target price on Asana from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, September 4th. Barclays cut Asana to an "outperform" rating in a research report on Monday, August 24th. Zacks Research downgraded shares of Asana from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. UBS Group increased 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, BTIG Research reissued a "neutral" rating on shares of Asana in a report on Friday, September 4th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Asana 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, goals and business processes. Its platform provides tools for assigning and tracking work, managing timelines and dependencies, communicating about projects, and monitoring progress across teams and departments.

Asana's products support a range of use cases, including project and portfolio management, workflow automation, strategic planning, marketing campaigns, product development and employee onboarding.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.