Sonalee Elizabeth Parekh Sells 1,884 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CFO Sonalee Elizabeth Parekh sold 1,884 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $13.57, for a total transaction of $25,565.88. Following the sale, the chief financial officer owned 1,335,043 shares in the company, valued at $18,116,533.51. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Sonalee Elizabeth Parekh also recently made the following trade(s):

• On Friday, June 20th, Sonalee Elizabeth Parekh sold 4,230 shares of Asana stock. The shares were sold at an average price of $13.17, for a total value of $55,709.10.

Asana Trading Up 3.4%

ASAN stock traded up $0.46 during midday trading on Friday, reaching $13.97. 2,421,440 shares of the company traded hands, compared to its average volume of 2,992,798. The business has a 50 day moving average of $15.71 and a 200-day moving average of $17.53. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -13.97 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The company had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. Asana's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vident Advisory LLC purchased a new stake in Asana in the 4th quarter worth about $460,000. Ameriprise Financial Inc. purchased a new stake in shares of Asana in the fourth quarter worth approximately $352,000. Brooklyn FI LLC purchased a new stake in shares of Asana in the fourth quarter worth approximately $8,138,000. Virtu Financial LLC purchased a new stake in shares of Asana in the fourth quarter worth approximately $2,349,000. Finally, Meeder Asset Management Inc. increased its stake in Asana by 49.2% in the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock worth $1,572,000 after purchasing an additional 25,564 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ASAN has been the topic of several recent analyst reports. Piper Sandler lifted their target price on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Bank of America reduced their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. Scotiabank lifted their price target on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Morgan Stanley decreased their price target on shares of Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. Finally, Robert W. Baird boosted their price target on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.97.

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.