Justin Rosenstein Sells 25,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 25,000 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $14.95, for a total transaction of $373,750.00. Following the completion of the transaction, the director owned 6,185,398 shares of the company's stock, valued at approximately $92,471,700.10. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Asana Price Performance

ASAN stock traded down $0.18 on Tuesday, hitting $13.96. 1,386,912 shares of the company's stock traded hands, compared to its average volume of 3,019,236. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -13.91 and a beta of 1.13. The stock has a fifty day moving average of $15.50 and a 200-day moving average of $17.13. 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 (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The business had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The firm's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. On average, analysts forecast that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Institutional Trading of Asana

Several large investors have recently modified their holdings of the company. Voya Investment Management LLC boosted its holdings in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after buying an additional 937,726 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Asana by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock worth $155,261,000 after buying an additional 475,100 shares during the period. Voloridge Investment Management LLC boosted its holdings in shares of Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after buying an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Asana during the 4th quarter worth $38,966,000. Finally, First Trust Advisors LP boosted its holdings in Asana by 17.6% in the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock valued at $35,350,000 after purchasing an additional 261,298 shares during the period. 26.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ASAN shares. UBS Group upped their price target on Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. FBN Securities upgraded Asana to a "strong-buy" rating in a report on Wednesday, June 4th. Morgan Stanley reduced their price objective on shares of Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. JPMorgan Chase & Co. raised their price objective on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a report on Wednesday, June 4th. Finally, Scotiabank raised their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.