Asana, Inc. (NYSE:ASAN) Director Sells $10,996,758.24 in Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 729,228 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $15.08, for a total transaction of $10,996,758.24. Following the completion of the sale, the director directly owned 4,067,863 shares of the company's stock, valued at approximately $61,343,374.04. The trade was a 15.20% decrease in their position. The sale was disclosed in a 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 shares were sold at an average price of $14.98, for a total transaction of $3,353,932.12.
• On Thursday, July 24th, Justin Rosenstein sold 115,936 shares of Asana stock. The stock was sold at an average price of $15.03, for a total transaction of $1,742,518.08.
• 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 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 Trading Up 1.0%

ASAN stock traded up $0.15 during midday trading on Monday, hitting $15.05. 3,015,035 shares of the company's stock were exchanged, compared to its average volume of 3,129,118. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.54 billion, a PE ratio of -15.05 and a beta of 1.13. The business has a 50-day simple moving average of $14.92 and a two-hundred day simple moving average of $16.75.

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

Institutional Investors Weigh In On Asana

Institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise acquired a new position in Asana in the 1st quarter valued at about $28,000. Quarry LP acquired a new stake in shares of Asana during the fourth quarter worth about $29,000. AlphaQuest LLC boosted its stake in shares of Asana by 825.1% in the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after purchasing an additional 2,203 shares during the period. State of Tennessee Department of Treasury acquired a new position in shares of Asana in the fourth quarter valued at approximately $135,000. Finally, 180 Wealth Advisors LLC purchased a new stake in Asana during the 1st quarter worth approximately $146,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ASAN. JPMorgan Chase & Co. upped their target price on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Wednesday, June 4th. FBN Securities upgraded shares of Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. Scotiabank upped their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Morgan Stanley decreased their target price on shares of Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. Finally, HSBC restated a "reduce" rating and issued a $10.00 price target (down from $13.00) on shares of Asana in a research 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average 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.