Justin Rosenstein Sells 226,600 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 226,600 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $14.99, for a total value of $3,396,734.00. Following the completion of the transaction, the director directly owned 5,958,798 shares of the company's stock, valued at $89,322,382.02. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 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 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 0.3%

Asana stock traded down $0.05 during midday trading on Friday, reaching $14.90. The stock had a trading volume of 2,437,872 shares, compared to its average volume of 3,249,753. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The stock has a market capitalization of $3.51 billion, a PE ratio of -14.90 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47. The stock's 50-day simple moving average is $14.98 and its 200 day simple moving average is $16.79.

Asana (NYSE:ASAN - Get Free Report) last issued 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. The company 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%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASAN. Banque Cantonale Vaudoise acquired a new position in shares of Asana during the first quarter worth about $28,000. Quarry LP purchased a new stake in shares of Asana during the fourth quarter worth about $29,000. AlphaQuest LLC lifted 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 worth $36,000 after acquiring an additional 2,203 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of Asana in the fourth quarter worth about $135,000. Finally, 180 Wealth Advisors LLC acquired a new position in shares of Asana in the first quarter worth about $146,000. Institutional investors and hedge funds own 26.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Scotiabank increased their target price on Asana from $12.00 to $16.50 and gave the company a "sector perform" 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. Morgan Stanley decreased their price objective on Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. JMP Securities restated a "market outperform" rating and set a $22.00 price objective on shares of Asana in a report on Wednesday, June 4th. Finally, Robert W. Baird raised their price objective on Asana from $13.00 to $15.00 and gave the stock a "neutral" 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, 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.