Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells 966,576 Shares of Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 966,576 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the transaction, the director owned 4,797,091 shares of the company's stock, valued at approximately $72,148,248.64. The trade was a 16.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, July 25th, Justin Rosenstein sold 223,894 shares of Asana stock. The shares were sold at an average price of $14.98, for a total value of $3,353,932.12.
• 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 value 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 value of $10,996,758.24.
• 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 value 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 value 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 Stock Up 1.0%

Asana stock traded up $0.15 during midday trading on Monday, reaching $15.05. The company's stock had a trading volume of 3,015,035 shares, compared to its average volume of 3,129,118. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The stock has a market capitalization of $3.54 billion, a P/E ratio of -15.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. The stock's 50-day simple moving average is $14.92 and its 200-day simple moving average is $16.75.

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. The company had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. On average, sell-side analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ASAN shares. Royal Bank Of Canada reaffirmed an "underperform" rating and set a $10.00 price objective on shares of Asana in a research note on Wednesday, June 4th. Jefferies Financial Group increased their target price on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. Robert W. Baird boosted their price objective on Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. 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. Finally, KeyCorp restated a "sector weight" rating on shares of Asana in a report on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Asana has a consensus rating of "Hold" and a consensus price target of $15.97.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vident Advisory LLC purchased a new position in shares of Asana during the 4th quarter valued at approximately $460,000. Ameriprise Financial Inc. acquired a new stake in Asana during the fourth quarter valued at $352,000. Brooklyn FI LLC acquired a new stake in Asana during the fourth quarter valued at $8,138,000. Meeder Asset Management Inc. increased its holdings in Asana by 49.2% in the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock valued at $1,572,000 after buying an additional 25,564 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Asana in the fourth quarter worth about $1,310,000. 26.21% of the stock is owned by institutional investors and hedge funds.

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.