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Asana, Inc. (NYSE: ASAN), a $3.3 billion market cap company with impressive gross profit margins of 89%, saw Director Justin Rosenstein sell 25,000 shares of Class A Common Stock on July 10, 2025, at a price of $14.95, for a total transaction value of $373,750. According to InvestingPro analysis, the stock appears undervalued at current levels, with 11 analysts recently revising their earnings estimates upward. Following the transaction, Rosenstein directly owns 6,185,398 shares of Asana.
The sale was executed under a Rule 10b5-1 trading plan adopted on March 18, 2025. The transaction was signed off by Katie Colendich, Attorney-in-Fact, on July 14, 2025.
In other recent news, Asana reported a 9% year-over-year revenue increase for its fiscal first quarter, surpassing consensus expectations by 1%. Despite this positive revenue growth, adjusted billings grew only 5% year-over-year, falling 2% below consensus estimates. The company’s remaining performance obligations rose by 11% year-over-year, with a notable 37% increase when adjusted. Asana’s non-GAAP operating margin grew by 4.3%, marking a significant 13.5 percentage point increase year-over-year. This margin improvement was partly due to the company’s strategy of shifting hiring to lower-cost regions. In leadership news, Dan Rogers will take over as CEO on July 21, succeeding co-founder Dustin Moskovitz, who will transition to Board Chair. The leadership change has been viewed positively by firms like Piper Sandler, which maintained an Overweight rating on Asana, and JMP Securities, which reiterated its Market Outperform rating. UBS, however, reiterated a Neutral rating, maintaining an $18 price target, citing ongoing challenges such as lower annual contract value on a $100 million renewal. Meanwhile, Asana’s CEO Moskovitz recently purchased $6.4 million in company stock, signaling confidence in the company ahead of the leadership transition.
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