Justin Rosenstein Sells 517,635 Shares of Asana, Inc. (NYSE:ASAN) Stock

Key Points

• Justin Rosenstein, a director at Asana, sold 517,635 shares of the company's stock for about $7.78 million, reducing his ownership by 13.88% to approximately 3.21 million shares.
• Asana's stock traded at $15.33 recently, with a 52-week range between $11.05 and $27.77, showing volatility in its market performance.
• The company reported a profit of $0.05 per share for the recent quarter, exceeding analyst expectations, with revenue reaching $187.63 million, an 8.6% increase year-over-year.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 517,635 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $15.04, for a total value of $7,785,230.40. Following the completion of the sale, the director owned 3,210,398 shares of the company's stock, valued at approximately $48,284,385.92. This trade represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, July 25th, Justin Rosenstein sold 223,894 shares of Asana stock. The stock was 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 stock was sold at an average price of $15.08, for a total value 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 value 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 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 shares were sold at an average price of $14.95, for a total value of $373,750.00.

Asana Trading Down 4.5%

ASAN stock traded down $0.66 during midday trading on Friday, reaching $14.02. The company's stock had a trading volume of 3,889,131 shares, compared to its average volume of 3,332,015. The business's 50-day simple moving average is $14.71 and its 200-day simple moving average is $16.66. The stock has a market cap of $3.30 billion, a PE ratio of -14.02 and a beta of 1.14. Asana, Inc. has a 52 week low of $11.05 and a 52 week 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.

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

Wall Street Analyst Weigh In

ASAN has been the subject of several research analyst reports. Piper Sandler raised their price objective on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Morgan Stanley lowered their target price on Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. Jefferies Financial Group increased their target price on Asana from $15.00 to $17.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. Robert W. Baird increased their target price on Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Finally, FBN Securities upgraded Asana to a "strong-buy" 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 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 a consensus rating of "Hold" and a consensus target price of $15.97.

Institutional Investors Weigh In On Asana

Several institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its stake 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 worth $254,166,000 after purchasing an additional 937,726 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Asana by 4.7% during the 1st 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 last quarter. Voloridge Investment Management LLC increased its stake in shares of Asana by 25.6% during the 4th 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 last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Asana during the 4th quarter worth about $38,966,000. Finally, First Trust Advisors LP increased its stake in shares of Asana by 17.6% during the 4th 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 last quarter. 26.21% of the stock is owned by 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.