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

Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was 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 directly owns 753,888 shares of the company’s stock, valued at approximately $11,308,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Asana Stock Up 3.1 %

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

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

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of recent analyst reports. KeyCorp initiated coverage on Asana in a report on Thursday, March 21st. They set an “underweight” rating and a $14.00 target price for the company. Piper Sandler raised their target price on shares of Asana from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Finally, Bank of America initiated coverage on shares of Asana in a research report on Monday, February 26th. They set a “buy” rating and a $25.00 price target on the stock. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASAN. Vanguard Group Inc. lifted its position in Asana by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,213,830 shares of the company’s stock valued at $168,705,000 after acquiring an additional 434,003 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Asana by 15.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock worth $33,891,000 after purchasing an additional 235,135 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in Asana during the 4th quarter valued at about $25,246,000. Charles Schwab Investment Management Inc. lifted its position in Asana by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock valued at $13,236,000 after purchasing an additional 43,564 shares during the period. Finally, Norges Bank bought a new position in shares of Asana during the 4th quarter valued at $7,500,000. Institutional investors own 26.21% of the company’s stock.

Asana Company Profile

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.