Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells 729,228 Shares of Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 729,228 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $15.08, for a total value of $10,996,758.24. Following the transaction, the director owned 4,067,863 shares of the company's stock, valued at $61,343,374.04. This trade represents a 15.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, July 22nd, Justin Rosenstein sold 966,576 shares of Asana stock. The shares were 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 shares were sold at an average price of $14.95, for a total value of $373,750.00.

Asana Stock Performance

ASAN traded down $0.05 during trading on Friday, hitting $14.90. 2,437,872 shares of the stock were exchanged, compared to its average volume of 3,249,753. The firm has a market capitalization of $3.51 billion, a P/E ratio of -14.90 and a beta of 1.13. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The stock has a fifty day moving average price of $14.98 and a two-hundred day moving average price of $16.81. 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 released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million for 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 revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, sell-side analysts predict that Asana, Inc. will post -1.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership acquired a new position in Asana during the fourth quarter worth $38,966,000. Acadian Asset Management LLC grew its holdings in Asana by 8,850.6% during the first quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock worth $16,950,000 after acquiring an additional 1,151,369 shares during the period. Two Sigma Investments LP grew its holdings in Asana by 288.1% during the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after acquiring an additional 1,043,047 shares during the period. Voya Investment Management LLC grew its holdings in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after acquiring an additional 937,726 shares during the period. Finally, Woodline Partners LP grew its holdings in Asana by 700.1% during the first quarter. Woodline Partners LP now owns 688,713 shares of the company's stock worth $10,035,000 after acquiring an additional 602,638 shares during the period. Institutional investors and hedge funds own 26.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ASAN. Jefferies Financial Group lifted their price objective on Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. UBS Group lifted their price objective on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Bank of America decreased their price objective on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Royal Bank Of Canada reiterated an "underperform" rating and issued a $10.00 price objective on shares of Asana in a research note on Wednesday, June 4th. Finally, HSBC reissued a "reduce" rating and set a $10.00 target price (down previously from $13.00) on shares of Asana in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.97.

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.