Asana (NYSE:ASAN) CAO Veronica Sosa Sells 11,378 Shares

Asana, Inc. (NYSE:ASAN) CAO Veronica Sosa sold 11,378 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $75,777.48. Following the completion of the transaction, the chief accounting officer directly owned 62,344 shares of the company’s stock, valued at approximately $415,211.04. The trade was a 15.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Asana Price Performance

ASAN opened at $6.63 on Thursday. The firm has a market capitalization of $1.53 billion, a P/E ratio of -9.62 and a beta of 1.02. Asana, Inc. has a one year low of $5.38 and a one year high of $15.71. The company has a fifty day moving average price of $6.80 and a 200-day moving average price of $8.69.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $205.09 million for the quarter, compared to the consensus estimate of $203.58 million. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, analysts expect that Asana, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ASAN. Morgan Stanley lowered their price target on Asana from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Friday, May 29th. KeyCorp decreased their price objective on shares of Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $7.00 target price (down from $9.00) on shares of Asana in a research note on Tuesday, April 14th. Finally, Citigroup reiterated a “market outperform” rating on shares of Asana in a research report on Friday, May 29th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.27.

Institutional Investors Weigh In On Asana

Large investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. boosted its holdings in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock worth $34,000 after purchasing an additional 5,002 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Asana by 92.6% during the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after buying an additional 1,075,572 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Asana by 2,925.2% during the 1st quarter. Royal Bank of Canada now owns 180,634 shares of the company’s stock valued at $1,157,000 after buying an additional 174,663 shares in the last quarter. Quantinno Capital Management LP lifted its position in Asana by 206.4% in the 1st quarter. Quantinno Capital Management LP now owns 158,588 shares of the company’s stock worth $1,015,000 after buying an additional 106,836 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new stake in Asana in the 1st quarter worth approximately $229,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.