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 that occurred on Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the completion of the sale, the director directly owned 4,797,091 shares of the company's stock, valued at $72,148,248.64. This represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 Monday, July 21st, Justin Rosenstein sold 195,131 shares of Asana stock. The shares were 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 shares were 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 shares were sold at an average price of $14.95, for a total transaction of $373,750.00.

Asana Stock Down 0.3%

Shares of ASAN traded down $0.05 during mid-day trading on Friday, hitting $14.90. 2,437,872 shares of the company traded hands, compared to its average volume of 3,249,753. 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 company has a market capitalization of $3.51 billion, a PE ratio of -14.90 and a beta of 1.13. The business has a 50 day moving average of $14.98 and a 200 day moving average of $16.81.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC raised its stake in Asana by 8.1% in 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 during the last quarter. Vanguard Group Inc. raised its stake in Asana by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock valued at $155,261,000 after purchasing an additional 475,100 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Asana by 25.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after acquiring an additional 438,057 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Asana in the 4th quarter worth $38,966,000. Finally, First Trust Advisors LP increased its stake in shares of Asana by 17.6% in the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after acquiring an additional 261,298 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ASAN. JMP Securities reissued a "market outperform" rating and issued a $22.00 target price on shares of Asana in a 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. Bank of America dropped their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Piper Sandler lifted their price objective on shares of Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley dropped 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. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.