Insider Selling: Asana, Inc. (NYSE:ASAN) CFO Sells $90,900.00 in Stock

Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan sold 5,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $18.18, for a total transaction of $90,900.00. Following the sale, the chief financial officer now owns 779,553 shares of the company’s stock, valued at approximately $14,172,273.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Asana Stock Performance

ASAN stock opened at $18.07 on Monday. Asana, Inc. has a fifty-two week low of $11.32 and a fifty-two week high of $26.27. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.97 billion, a P/E ratio of -11.73 and a beta of 1.30. The company has a 50-day simple moving average of $18.96 and a 200 day simple moving average of $20.23.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Tuesday, September 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. Asana had a negative net margin of 54.21% and a negative return on equity of 87.79%. The company had revenue of $162.46 million during the quarter, compared to the consensus estimate of $157.91 million. During the same period in the prior year, the company earned ($0.59) EPS. Asana’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts predict that Asana, Inc. will post -1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group assumed coverage on shares of Asana in a research note on Thursday, October 12th. They set a “neutral” rating and a $20.00 target price for the company. HSBC began coverage on shares of Asana in a report on Friday, September 29th. They set a “hold” rating and a $18.00 price target for the company. Oppenheimer reissued an “outperform” rating and set a $28.00 price target on shares of Asana in a report on Wednesday, September 6th. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Asana in a report on Wednesday, September 6th. Finally, Piper Sandler downgraded shares of Asana from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $24.00 to $16.00 in a report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.87.

Institutional Investors Weigh In On Asana

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its holdings in Asana by 118.7% in the 1st quarter. US Bancorp DE now owns 1,216 shares of the company’s stock valued at $26,000 after acquiring an additional 660 shares during the last quarter. FMR LLC lifted its holdings in Asana by 120.4% in the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after acquiring an additional 862 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Asana in the 1st quarter valued at about $33,000. Allspring Global Investments Holdings LLC lifted its holdings in Asana by 1,015.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company’s stock valued at $46,000 after acquiring an additional 2,294 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Asana by 47.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,715 shares of the company’s stock worth $109,000 after buying an additional 868 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.