Asana, Inc. (NYSE:ASAN) Director Sells $1,742,518.08 in Stock

Key Points

• Justin Rosenstein, Director of Asana, sold a total of **1,962,324 shares** over several days, significantly decreasing his ownership position by **2.85%**.
• Asana's stock price recently traded at **$15.05** with a market capitalization of **$3.54 billion**, alongside a negative earnings per share (EPS) of **$0.05** for the latest quarter.
• Wall Street analysts have mixed views on Asana, with several ratings including **"underperform," "buy,"** and **"strong-buy,"** highlighting a consensus target price of **$15.97**.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 115,936 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $15.03, for a total value of $1,742,518.08. Following the completion of the transaction, the director directly owned 3,951,927 shares of the company's stock, valued at $59,397,462.81. This represents a 2.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, July 28th, Justin Rosenstein sold 517,635 shares of Asana stock. The shares were sold at an average price of $15.04, for a total value of $7,785,230.40.
• 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 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 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 shares were 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 shares were 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 value of $373,750.00.

Asana Stock Performance

Shares of NYSE:ASAN traded down $0.59 during midday trading on Friday, hitting $14.09. The stock had a trading volume of 1,294,330 shares, compared to its average volume of 3,411,670. The company has a market capitalization of $3.32 billion, a PE ratio of -14.11 and a beta of 1.13. The stock has a 50 day moving average price of $14.77 and a two-hundred day moving average price of $16.70. 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 1 year low of $11.05 and a 1 year high of $27.77.

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 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 firm had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Institutional Trading of Asana

Institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC increased its position in shares of Asana by 491.5% in the second quarter. AlphaQuest LLC now owns 14,611 shares of the company's stock worth $197,000 after acquiring an additional 12,141 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in Asana by 7.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 10,769 shares of the company's stock valued at $145,000 after acquiring an additional 722 shares during the last quarter. Bogart Wealth LLC bought a new position in shares of Asana in the 2nd quarter worth about $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Asana in the 2nd quarter worth about $649,000. Finally, Blue Trust Inc. lifted its position in shares of Asana by 13.7% in the 2nd quarter. Blue Trust Inc. now owns 26,638 shares of the company's stock worth $360,000 after buying an additional 3,216 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group lifted their price target on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price target on Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a report on Wednesday, June 4th. KeyCorp reiterated a "sector weight" rating on shares of Asana in a report on Wednesday, June 4th. Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 price objective on shares of Asana in a research note on Wednesday, June 4th. Finally, Robert W. Baird upped their price target on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.