Asana, Inc. (NYSE:ASAN) CFO Sonalee Elizabeth Parekh Sells 4,230 Shares

Asana, Inc. (NYSE:ASAN - Get Free Report) CFO Sonalee Elizabeth Parekh sold 4,230 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $13.17, for a total transaction of $55,709.10. Following the completion of the transaction, the chief financial officer now owns 1,336,927 shares of the company's stock, valued at $17,607,328.59. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Asana Stock Up 0.9%

NYSE ASAN traded up $0.11 during mid-day trading on Tuesday, hitting $13.20. The stock had a trading volume of 3,119,289 shares, compared to its average volume of 2,952,816. The firm's 50 day moving average is $16.01 and its 200 day moving average is $18.14. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $187.63 million during the quarter, compared to the consensus estimate of $185.40 million. During the same period last year, the company earned ($0.06) EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts anticipate that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank boosted their target price on shares of Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Asana from a "hold" rating to a "buy" rating in a report on Friday, June 6th. JMP Securities restated a "market outperform" rating and set a $22.00 price objective on shares of Asana in a report on Wednesday, June 4th. UBS Group upped their target price on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Piper Sandler upped their price objective on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $15.97.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently modified their holdings of ASAN. Banque Cantonale Vaudoise acquired a new stake in shares of Asana in the 1st quarter worth $28,000. Quarry LP acquired a new stake in shares of Asana in the 4th quarter worth $29,000. AlphaQuest LLC increased its stake in shares of Asana by 825.1% in the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after acquiring an additional 2,203 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Asana during the 4th quarter worth $82,000. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Asana during the 4th quarter worth $135,000. 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; 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.

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