Insider Selling: Asana (NYSE:ASAN) CEO Sells $180,930.84 in Stock

Key Points

• Asana CEO Daniel Rogers sold 18,021 shares at an average price of $10.04, generating $180,930.84. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, and Rogers retained 1,456,698 shares.
• Asana shares recently traded near $9.88, with a market capitalization of approximately $2.26 billion. The stock has ranged from $5.38 to $15.28 over the past 52 weeks.
• The company exceeded quarterly earnings and revenue estimates, reporting $0.10 EPS and $216.43 million in revenue, while analysts maintain a consensus “Hold” rating with an average price target of $9.95.

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Daniel Rogers sold 18,021 shares of Asana stock in a transaction on Friday, October 9th. The stock was sold at an average price of $10.04, for a total transaction of $180,930.84. Following the completion of the transaction, the chief executive officer directly owned 1,456,698 shares in the company, valued at approximately $14,625,247.92. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, 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 transaction of $1,371,097.75.
• 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 transaction of $16,550.00.

Asana Price Performance

Asana stock traded down $0.01 during trading hours on Tuesday, reaching $9.88. The stock had a trading volume of 3,523,624 shares, compared to its average volume of 6,148,633. The stock has a market cap of $2.26 billion, a PE ratio of -14.98 and a beta of 1.19. Asana, Inc. has a 52 week low of $5.38 and a 52 week high of $15.28. The company has a fifty day simple moving average of $9.30 and a 200-day simple moving average of $7.74.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings data 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 analysts' expectations 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 previous year, the company 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. Research analysts predict that Asana, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Asana

Several large investors have recently bought and sold shares of the company. Optiver Holding B.V. boosted 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 worth $34,000 after acquiring an additional 5,002 shares in the last quarter. Performa Ltd US LLC increased its stake 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 purchasing an additional 4,775 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Asana during the first quarter valued at approximately $53,000. HB Wealth Management LLC bought a new position in shares of Asana during the second quarter valued at approximately $71,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Asana by 39.7% during the third 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. 26.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ASAN. UBS Group lifted their price objective on Asana from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, September 4th. Weiss Ratings restated a "sell (e+)" rating on shares of Asana in a report on Wednesday, August 5th. DA Davidson raised their price target on Asana from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $15.00 price target on shares of Asana in a research note on Friday, September 4th. Finally, Robert W. Baird lifted their price target on shares of Asana from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, September 4th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $9.95.

About Asana

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.

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