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SAN FRANCISCO—Lacey Eleanor B, the General Counsel and Corporate Secretary of Asana, Inc. (NYSE:ASAN), recently sold a significant portion of her holdings in the company. The workplace productivity software maker, currently valued at $3.48 billion, has maintained impressive gross profit margins of 89% while growing revenue at 11% year-over-year. According to a recent SEC filing, Eleanor B executed two separate transactions involving the sale of Asana’s Class A Common Stock.
The first transaction took place on March 20, where she sold 9,087 shares at an average price of $14.032 per share, amounting to a total of $127,508. This sale was executed as part of Asana’s policy to cover tax obligations related to the vesting of Restricted Stock Units (RSUs).
The second sale occurred on March 24, involving 4,911 shares at a weighted average price of $14.8819 per share, totaling $73,085. This transaction was conducted under a pre-established Rule 10b5-1 trading plan adopted in December 2023.
Following these transactions, Eleanor B holds 340,994 shares of Asana. The sales reflect a routine adjustment in her holdings, with the first sale being a sell-to-cover transaction and the second executed under a trading plan. For deeper insights into Asana’s financial health and future prospects, InvestingPro subscribers can access comprehensive research reports and 8 additional ProTips about the company’s performance.
In other recent news, Asana’s financial and leadership developments have drawn significant attention. The company reported a mixed financial performance in its latest quarterly report, with a fourth-quarter revenue increase that fell short of expectations. Asana’s forecast for fiscal year 2026 revenue growth is now set at 9-10%, a decrease from previous estimates. The company’s guidance for a 5% EBIT margin in fiscal year 2026 exceeded some expectations, reflecting a significant improvement over prior forecasts.
A major leadership change is underway, as co-founder and CEO Dustin Moskovitz announced his departure, transitioning to the role of board chair. This transition has prompted various analyst reactions. Piper Sandler maintained an Overweight rating but reduced the price target to $18, while UBS cut the target to $14, maintaining a Neutral rating. RBC Capital reaffirmed an Underperform rating with a $10 target, expressing concerns over growth prospects. Scotiabank (TSX:BNS) also adjusted its target to $12, citing challenges in customer expansion and macroeconomic conditions.
Morgan Stanley (NYSE:MS) reduced its price target to $15, maintaining an Equalweight rating, highlighting the contrast between optimistic third-quarter results and recent developments. These changes reflect the broader challenges Asana faces, including macroeconomic headwinds and the need for strategic adjustments to sustain growth.
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