Asana, Inc. (NYSE:ASAN) COO Anne Raimondi Sells 27,016 Shares

Asana, Inc. (NYSE:ASAN - Get Free Report) COO Anne Raimondi sold 27,016 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $13.17, for a total transaction of $355,800.72. Following the transaction, the chief operating officer now owns 889,936 shares of the company's stock, valued at approximately $11,720,457.12. The trade was a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Asana Stock Performance

Shares of NYSE ASAN traded up $0.11 during mid-day trading on Tuesday, reaching $13.20. 3,119,289 shares of the company's stock were exchanged, compared to its average volume of 2,952,816. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $16.01 and a two-hundred day moving average price of $18.14.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ASAN. Morgan Stanley lowered their price objective on shares of Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Wednesday, June 4th. UBS Group lifted their price objective on shares of Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Scotiabank lifted their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 price target on shares of Asana in a research report on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.97.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its position in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after purchasing an additional 937,726 shares during the period. Vanguard Group Inc. boosted its position in Asana by 4.7% during the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock worth $155,261,000 after purchasing an additional 475,100 shares during the period. Voloridge Investment Management LLC boosted its position in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after purchasing an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Asana during the fourth quarter worth about $38,966,000. Finally, First Trust Advisors LP boosted its position in Asana by 17.6% during the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after purchasing an additional 261,298 shares during the period. 26.21% of the stock is currently owned by institutional investors.

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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