Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan Sells 10,000 Shares

Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the sale, the chief financial officer now owns 753,888 shares in the company, valued at $11,308,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Asana Trading Up 3.1 %

Shares of ASAN opened at $15.08 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.80 and a quick ratio of 1.80. Asana, Inc. has a 1-year low of $13.34 and a 1-year high of $26.27. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -12.89 and a beta of 1.22. The firm has a 50 day simple moving average of $16.24 and a 200-day simple moving average of $18.18.

Asana (NYSE:ASAN) last announced its earnings results on Monday, March 11th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. The firm had revenue of $171.14 million for the quarter, compared to analysts’ expectations of $167.59 million. Equities analysts forecast that Asana, Inc. will post -1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Asana during the 4th quarter worth about $25,246,000. Vanguard Group Inc. grew its stake in Asana by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,213,830 shares of the company’s stock worth $168,705,000 after acquiring an additional 434,003 shares during the period. Norges Bank purchased a new stake in Asana in the 4th quarter worth approximately $7,500,000. Goldman Sachs Group Inc. raised its holdings in Asana by 15.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after acquiring an additional 235,135 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Asana during the 4th quarter worth $3,731,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ASAN. Bank of America assumed coverage on shares of Asana in a research report on Monday, February 26th. They set a “buy” rating and a $25.00 target price on the stock. Piper Sandler boosted their price objective on shares of Asana from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Finally, KeyCorp assumed coverage on shares of Asana in a research report on Thursday, March 21st. They set an “underweight” rating and a $14.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.67.

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; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.