Insider Selling: Asana (NYSE:ASAN) CEO Sells 1,655 Shares

Key Points

• Asana CEO Daniel Mark Rogers sold 1,655 shares at $10.00 each for $16,550 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 0.09% to 1.93 million shares.
• Asana shares rose 0.6% to $10.23, while the company’s latest quarterly results exceeded expectations with $0.10 EPS and $205.09 million in revenue, up 9.5% year over year.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $9.27 price target; institutional investors own approximately 26.21% of the stock.

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Daniel Mark Rogers sold 1,655 shares of Asana stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $10.00, for a total value of $16,550.00. Following the transaction, the chief executive officer owned 1,925,831 shares in the company, valued at approximately $19,258,310. The trade was a 0.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 Tuesday, June 30th, Daniel Mark 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.
• On Monday, June 22nd, Daniel Mark Rogers sold 26,975 shares of Asana stock. The shares were sold at an average price of $6.66, for a total value of $179,653.50.

Asana Stock Up 0.6%

Shares of ASAN traded up $0.06 during midday trading on Friday, reaching $10.23. The company had a trading volume of 3,991,390 shares, compared to its average volume of 5,862,563. Asana, Inc. has a 1-year low of $5.38 and a 1-year high of $15.71. The stock has a market cap of $2.36 billion, a PE ratio of -14.83 and a beta of 0.93. The firm has a 50 day simple moving average of $8.06 and a 200-day simple moving average of $7.28.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business had revenue of $205.09 million for the quarter, compared to analyst estimates of $203.58 million. During the same quarter in the previous year, the firm earned $0.05 EPS. The company's quarterly revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Asana, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Asana

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Optiver Holding B.V. lifted its position in Asana by 2,008.8% in 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 increased its position in shares of Asana by 335.1% during the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company's stock valued at $40,000 after acquiring an additional 4,775 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Asana in the 4th quarter valued at approximately $50,000. Summit Securities Group LLC purchased a new stake in shares of Asana in the 1st quarter valued at approximately $53,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock valued at $59,000 after acquiring an additional 1,706 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley reduced their target price on shares of Asana from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Friday, May 29th. UBS Group reissued a "neutral" rating and issued a $8.00 price target on shares of Asana in a research note on Friday, May 29th. Wall Street Zen downgraded shares of Asana from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th. Citigroup reaffirmed a "market outperform" rating on shares of Asana in a research report on Monday. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $15.00 price objective on shares of Asana in a report on Tuesday, July 7th. Four 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $9.27.

Asana Company Profile

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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