Key Points
- CEO Daniel Rogers sold 150,175 Asana shares at an average price of $9.13, generating approximately $1.37 million. The Rule 10b5-1 transaction reduced his ownership by 9.24%, though it was scheduled in advance.
- Rogers also sold 300,937 shares the previous day, bringing his combined September sales to 451,112 shares worth about $4.24 million and reducing his holdings by roughly 25% across the two transactions.
- Asana exceeded quarterly earnings and revenue expectations, but analysts maintain an average “Hold” rating with a consensus price target of $9.95; the company continues to report negative margins and analysts expect a full-year loss.
Asana, Inc. (NYSE:ASAN - Get Free Report) CFO Aziz Megji sold 3,224 shares of the company's stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $9.26, for a total transaction of $29,854.24. Following the sale, the chief financial officer directly owned 726,721 shares in the company, valued at approximately $6,729,436.46. The trade was a 0.44% 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 sale was made to cover tax withholding obligations related to the vesting of equity awards.
Aziz Megji also recently made the following trade(s):
- On Monday, September 21st, Aziz Megji sold 35,444 shares of Asana stock. The shares were sold at an average price of $9.53, for a total transaction of $337,781.32.
Asana Stock Up 4.6%
NYSE:ASAN opened at $9.49 on Thursday. The company has a fifty day simple moving average of $8.93 and a two-hundred day simple moving average of $7.54. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -14.39 and a beta of 0.95. Asana, Inc. has a 52 week low of $5.38 and a 52 week high of $15.48.
Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $216.43 million for the quarter, compared to analysts' expectations of $214.15 million. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%.The company's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm 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. On average, analysts expect that Asana, Inc. will post -0.53 EPS for the current year.
Key Stories Impacting Asana
Here are the key news stories impacting Asana this week:
- Positive Sentiment: Recent insider transactions were conducted under pre-arranged Rule 10b5-1 trading plans, which generally indicates the sales were scheduled in advance rather than based on newly developed concerns about Asana’s outlook.
- Neutral Sentiment: Brokerages have assigned Asana an average “Hold” recommendation, suggesting limited near-term conviction among analysts. Asana Receives Average Hold Recommendation
- Neutral Sentiment: Coverage indicates Asana is holding near its annual trading range as investors reassess growth metrics. This points to a market focused on whether the company can reaccelerate growth and improve operating performance. Asana Stock Holds Near Its Yearly Range
- Negative Sentiment: CEO Daniel Rogers sold a combined 451,112 shares worth approximately $4.24 million across September 21–22, reducing his holdings by roughly 25% over the two transactions. Although the trades were pre-arranged, substantial selling by the chief executive can weigh on sentiment.
- Negative Sentiment: Insider Katie Colendich sold a combined 15,910 shares for approximately $153,656 under a 10b5-1 plan, modestly reducing her ownership.
- Neutral Sentiment: CFO Aziz Megji sold 3,224 shares, but the transaction was specifically made to cover tax withholding tied to vested equity awards, making it less indicative of a negative view of Asana’s prospects.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership raised its position in shares of Asana by 37.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company's stock worth $45,979,000 after acquiring an additional 1,969,657 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Asana by 705.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company's stock valued at $18,850,000 after purchasing an additional 1,204,232 shares in the last quarter. Bank of America Corp DE increased its stake in Asana by 92.6% in the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company's stock valued at $14,318,000 after purchasing an additional 1,075,572 shares during the last quarter. First Trust Advisors LP increased its stake in Asana by 12.9% in the first quarter. First Trust Advisors LP now owns 1,988,739 shares of the company's stock valued at $12,728,000 after purchasing an additional 227,204 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Asana by 108.3% during the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company's stock worth $6,217,000 after purchasing an additional 461,858 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on ASAN shares. Zacks Research cut Asana from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Barclays cut shares of Asana to an "outperform" rating in a report on Monday, August 24th. BTIG Research reiterated a "neutral" rating on shares of Asana in a research note on Friday, September 4th. Citizens Jmp reiterated a "market outperform" rating and set a $15.00 price target on shares of Asana in a report on Friday, September 4th. Finally, Morgan Stanley dropped their price objective on shares of Asana from $8.00 to $7.00 and set an "underweight" rating on the stock in a research report on Friday, May 29th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Asana has an average rating of "Hold" and an average price target of $9.95.
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About Asana
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Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.
Asana's products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.
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