Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein Sells 223,894 Shares

Key Points

• Asana, Inc. Director Justin Rosenstein sold 223,894 shares of company stock at an average price of $14.98 on July 25, totaling over $3.35 million, reducing his ownership by 5.67%.
• The company's stock price currently stands at $15.05, showing a slight increase of 1.0%, with significant trading volumes observed recently.
• Asana reported earnings of $0.05 per share for the last quarter, surpassing analyst expectations, and the company’s revenue rose 8.6% year-over-year to $187.63 million.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 223,894 shares of Asana stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $14.98, for a total transaction of $3,353,932.12. Following the transaction, the director owned 3,728,033 shares of the company's stock, valued at approximately $55,845,934.34. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Justin Rosenstein also recently made the following trade(s):

• On Monday, July 28th, Justin Rosenstein sold 517,635 shares of Asana stock. The stock was sold at an average price of $15.04, for a total transaction of $7,785,230.40.
• On Thursday, July 24th, Justin Rosenstein sold 115,936 shares of Asana stock. The shares were sold at an average price of $15.03, for a total transaction of $1,742,518.08.
• On Wednesday, July 23rd, Justin Rosenstein sold 729,228 shares of Asana stock. The shares were sold at an average price of $15.08, for a total transaction of $10,996,758.24.
• On Tuesday, July 22nd, Justin Rosenstein sold 966,576 shares of Asana stock. The stock was sold at an average price of $15.04, for a total transaction of $14,537,303.04.
• On Monday, July 21st, Justin Rosenstein sold 195,131 shares of Asana stock. The stock was sold at an average price of $15.01, for a total transaction of $2,928,916.31.
• On Friday, July 18th, Justin Rosenstein sold 226,600 shares of Asana stock. The stock was sold at an average price of $14.99, for a total transaction of $3,396,734.00.
• On Thursday, July 10th, Justin Rosenstein sold 25,000 shares of Asana stock. The stock was sold at an average price of $14.95, for a total transaction of $373,750.00.

Asana Price Performance

ASAN traded down $0.59 on Friday, reaching $14.09. The company had a trading volume of 1,294,330 shares, compared to its average volume of 3,411,670. The company has a fifty day moving average of $14.77 and a 200-day moving average of $16.70. The company has a market capitalization of $3.32 billion, a P/E ratio of -14.11 and a beta of 1.13. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77.

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

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently bought and sold shares of ASAN. Arrowstreet Capital Limited Partnership bought a new position in shares of Asana during the 4th quarter valued at about $38,966,000. Acadian Asset Management LLC boosted its position in shares of Asana by 8,850.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock valued at $16,950,000 after purchasing an additional 1,151,369 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Asana by 288.1% during the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after purchasing an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in Asana by 700.1% during the first quarter. Woodline Partners LP now owns 688,713 shares of the company's stock valued at $10,035,000 after buying an additional 602,638 shares in the last quarter. Institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

ASAN has been the subject of several analyst reports. Piper Sandler upped their target price on shares of Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada reaffirmed an "underperform" rating and issued a $10.00 price target on shares of Asana in a report on Wednesday, June 4th. Robert W. Baird upped their price target on shares of Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. HSBC reissued a "reduce" rating and set a $10.00 target price (down from $13.00) on shares of Asana in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have given 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, Asana has a consensus rating of "Hold" and a consensus price target of $15.97.

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.