Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein Sells 25,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $14.95, for a total transaction of $373,750.00. Following the completion of the transaction, the director owned 6,185,398 shares in the company, valued at $92,471,700.10. This trade represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Asana Stock Performance

NYSE ASAN opened at $14.16 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -14.16 and a beta of 1.13. The company’s fifty day moving average is $15.50 and its two-hundred day moving average is $17.13. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The company had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. During the same period last year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that Asana, Inc. will post -1.09 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on ASAN. Piper Sandler lifted their target price on shares of Asana from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Wednesday, June 4th. KeyCorp reiterated a “sector weight” rating on shares of Asana in a report on Wednesday, June 4th. Bank of America dropped their target price on shares of Asana from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, June 4th. Finally, Morgan Stanley dropped their target price on shares of Asana from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Asana presently has an average rating of “Hold” and a consensus price target of $15.97.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Catalyst Private Wealth LLC increased its stake in Asana by 3.1% in the second quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company’s stock valued at $580,000 after acquiring an additional 1,285 shares during the period. Harbor Capital Advisors Inc. increased its stake in Asana by 14.1% in the second quarter. Harbor Capital Advisors Inc. now owns 20,622 shares of the company’s stock valued at $278,000 after acquiring an additional 2,543 shares during the period. Rhumbline Advisers increased its stake in Asana by 3.1% in the first quarter. Rhumbline Advisers now owns 125,556 shares of the company’s stock valued at $1,829,000 after acquiring an additional 3,739 shares during the period. Strs Ohio bought a new stake in Asana in the first quarter valued at about $195,000. Finally, Acadian Asset Management LLC increased its stake in Asana by 8,850.6% in the first quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company’s stock valued at $16,950,000 after acquiring an additional 1,151,369 shares during the period. Institutional investors own 26.21% of the company’s stock.

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.