Asana, Inc. (NYSE:ASAN) Director Sells $373,750.00 in Stock

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

Asana Trading Up 2.3%

NYSE:ASAN traded up $0.33 during mid-day trading on Thursday, hitting $14.42. 2,612,525 shares of the company's stock were exchanged, compared to its average volume of 3,035,017. The company has a 50 day simple moving average of $15.34 and a 200-day simple moving average of $17.04. 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, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The firm has a market capitalization of $3.39 billion, a P/E ratio of -14.42 and a beta of 1.13.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ASAN. Charles Schwab Investment Management Inc. raised its holdings in Asana by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company's stock worth $14,083,000 after purchasing an additional 48,831 shares during the last quarter. Raymond James Financial Inc. bought a new position in Asana during the 4th quarter worth approximately $1,352,000. Twin Tree Management LP bought a new position in Asana during the 4th quarter worth approximately $457,000. Intech Investment Management LLC raised its holdings in Asana by 24.0% during the 4th quarter. Intech Investment Management LLC now owns 48,729 shares of the company's stock worth $988,000 after purchasing an additional 9,426 shares during the last quarter. Finally, Brooklyn FI LLC bought a new position in Asana during the 4th quarter worth approximately $8,138,000. Institutional investors own 26.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. 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 report on Wednesday, June 4th. Piper Sandler raised their target price on shares of Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Jefferies Financial Group raised their target price on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. FBN Securities upgraded shares of Asana to a "strong-buy" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.