Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells 115,936 Shares of 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 business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $15.03, for a total transaction of $1,742,518.08. Following the transaction, the director owned 3,951,927 shares in the company, valued at $59,397,462.81. This represents a 2.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 transaction of $3,353,932.12.
• 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 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 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 stock was sold at an average price of $14.95, for a total transaction of $373,750.00.

Asana Price Performance

Shares of ASAN stock traded up $0.15 during mid-day trading on Monday, hitting $15.05. 3,015,035 shares of the stock traded hands, compared to its average volume of 3,411,135. The company's 50-day simple moving average is $14.98 and its 200-day simple moving average is $16.78. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -15.05 and a beta of 1.13. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47.

Asana (NYSE:ASAN - Get Free Report) last issued 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. The firm had revenue of $187.63 million for the quarter, compared to analysts' expectations of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. Asana's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. As a group, equities research analysts expect that Asana, Inc. will post -1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ASAN. Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 target price on shares of Asana in a research note on Wednesday, June 4th. Bank of America reduced their price target on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, June 4th. KeyCorp reaffirmed a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. FBN Securities upgraded Asana to a "strong-buy" rating in a report on Wednesday, June 4th. Finally, Jefferies Financial Group raised their price target on Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $15.97.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of Asana in the first quarter worth about $28,000. Quarry LP bought a new stake in shares of Asana during the fourth quarter worth $29,000. AlphaQuest LLC raised its position in shares of Asana by 825.1% during the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after acquiring an additional 2,203 shares during the last quarter. State of Tennessee Department of Treasury bought a new stake in shares of Asana during the fourth quarter worth $135,000. Finally, 180 Wealth Advisors LLC bought a new stake in shares of Asana during the first quarter worth $146,000. 26.21% of the stock is owned by institutional investors.

About Asana

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.

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