Insider Selling: Asana (NYSE:ASAN) Insider Sells 7,304 Shares of Stock

by · The Markets Daily

Asana, Inc. (NYSE:ASAN – Get Free Report) insider Katie Marie Colendich sold 7,304 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the transaction, the insider directly owned 108,214 shares in the company, valued at approximately $802,947.88. The trade was a 6.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Asana Price Performance

Shares of ASAN stock traded down $0.19 on Thursday, reaching $6.86. The company’s stock had a trading volume of 4,833,543 shares, compared to its average volume of 5,522,945. The company has a market capitalization of $1.63 billion, a P/E ratio of -8.58 and a beta of 1.01. Asana, Inc. has a 12-month low of $6.51 and a 12-month high of $19.00. The stock’s 50 day simple moving average is $9.55 and its 200-day simple moving average is $12.32. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.19.

Asana (NYSE:ASAN – Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Asana had a negative return on equity of 71.50% and a negative net margin of 23.90%.The business had revenue of $205.57 million during the quarter, compared to analysts’ expectations of $205.13 million. The firm’s revenue was up 9.2% on a year-over-year basis. As a group, equities analysts predict that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently made changes to their positions in ASAN. FNY Investment Advisers LLC bought a new stake in shares of Asana in the 3rd quarter worth approximately $27,000. Farther Finance Advisors LLC raised its position in Asana by 119.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock worth $34,000 after purchasing an additional 1,391 shares during the period. Jones Financial Companies Lllp boosted its position in Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after buying an additional 1,427 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Asana during the fourth quarter valued at about $50,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after buying an additional 1,706 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ASAN has been the topic of a number of recent analyst reports. BTIG Research began coverage on shares of Asana in a research note on Tuesday, December 16th. They issued a “neutral” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Asana in a report on Monday, December 29th. Citigroup dropped their price objective on shares of Asana from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Jefferies Financial Group cut their target price on shares of Asana from $15.00 to $8.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Finally, KeyCorp reduced their target price on Asana from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Asana presently has a consensus rating of “Hold” and a consensus target price of $12.46.

Get Our Latest Analysis on ASAN

About Asana

(Get Free Report)

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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