Asana, Inc. (NYSE:ASAN) COO Sells $355,800.72 in Stock

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

Asana Stock Down 0.6%

Shares of NYSE ASAN traded down $0.08 during mid-day trading on Friday, reaching $13.26. 1,955,593 shares of the company were exchanged, compared to its average volume of 3,407,423. The firm has a 50-day moving average of $15.89 and a 200 day moving average of $17.99. Asana, Inc. has a 1 year low of $11.05 and a 1 year 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. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -13.24 and a beta of 1.23.

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

Wall Street Analyst Weigh In

ASAN has been the subject of several recent research reports. Piper Sandler lifted their price target on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. KeyCorp reissued a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Robert W. Baird lifted their price objective 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. Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 target price on shares of Asana in a research note on Wednesday, June 4th. Finally, Scotiabank raised 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. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Asana presently has an average rating of "Hold" and a consensus target price of $15.97.

Institutional Investors Weigh In On Asana

Hedge funds have recently added to or reduced their stakes in the business. Vident Advisory LLC acquired a new position in shares of Asana in the 4th quarter valued at about $460,000. Ameriprise Financial Inc. purchased a new position in Asana during the fourth quarter valued at approximately $352,000. Brooklyn FI LLC acquired a new position in Asana in the fourth quarter valued at approximately $8,138,000. Virtu Financial LLC purchased a new stake in Asana in the 4th quarter worth approximately $2,349,000. Finally, Meeder Asset Management Inc. boosted its position in Asana by 49.2% in the 4th 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 in the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.