Pinnacle financial director Thompson buys $856k in shares
Asana, Inc. (ASAN:ASAN) Chief Financial Officer Sonalee Elizabeth Parekh sold 4,230 shares of Class A Common Stock on June 20, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at $13.167, totaling $55,696, amid a challenging period for the stock which has declined ~40% over the past six months. According to InvestingPro data, the company maintains strong fundamentals with impressive gross profit margins of 89% and more cash than debt on its balance sheet.
Following the transaction, Parekh directly owns 1,336,927 shares of Asana, Inc. The sale was executed to cover tax obligations related to the vesting and settlement of Restricted Stock Units (RSUs). While the company is not currently profitable, InvestingPro analysis reveals that 11 analysts have revised their earnings upwards, with expectations of profitability this year.
In other recent news, Asana has reported a 9% year-over-year increase in revenue for its fiscal first quarter, surpassing consensus expectations. However, the company lowered its fiscal year 2026 revenue growth guidance, citing a decline in billings growth and a significant tech renewal deferred to the second quarter. Analysts from FBN Securities, UBS, and Piper Sandler have raised their price targets for Asana stock, reflecting the company’s strong margin expansion and strategic developments, with Piper Sandler highlighting improvements in key verticals such as manufacturing and energy.
UBS analysts maintained a Neutral rating, pointing out a reduction in fiscal year 2026 revenue growth guidance and a decrease in the dollar-based net retention rate. KeyBanc maintained a Sector Weight rating following Asana’s largest deal in history, a three-year contract valued at $100 million, which extended the term but resulted in a lower average annual contract value. The contract reflects a broader trend of larger customers reducing spending upon renewal, posing challenges for Asana.
Scotiabank (TSX:BNS) analysts raised their price target, noting a $1.8 million revenue beat and a 9.8% year-over-year growth, adjusted for the leap year. Despite the positive developments, analysts remain cautious due to ongoing pressure for downgrades, particularly in the enterprise and tech sectors. Asana’s AI Studio achieved over $1 million in annual recurring revenue, with potential for accelerated growth, yet broader demand trends remain a concern.
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