Justin Rosenstein Sells 454,913 Shares of Asana (NYSE:ASAN) Stock

Key Points

• Justin Rosenstein, a director at Asana, sold 454,913 shares of the company's stock on October 8th for a total of $6.86 million, reducing his ownership by 14.17%.
• Asana's stock recently traded down 10.6%, reaching $13.59, and has a current market cap of $3.21 billion.
• The company reported earnings of ($0.20) per share for the last quarter, missing estimates, despite revenue increasing by 9.9% year-over-year to $196.94 million.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 454,913 shares of Asana stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $15.08, for a total value of $6,860,088.04. Following the completion of the transaction, the director directly owned 2,755,485 shares in the company, valued at approximately $41,552,713.80. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, October 9th, Justin Rosenstein sold 1,199,560 shares of Asana stock. The stock was sold at an average price of $15.23, for a total value of $18,269,298.80.
• On Monday, July 28th, Justin Rosenstein sold 517,635 shares of Asana stock. The stock was sold at an average price of $15.04, for a total value of $7,785,230.40.
• On Friday, July 25th, Justin Rosenstein sold 223,894 shares of Asana stock. The stock was sold at an average price of $14.98, for a total value 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 value of $1,742,518.08.
• On Wednesday, July 23rd, Justin Rosenstein sold 729,228 shares of Asana stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $14.99, for a total value of $3,396,734.00.

Asana Trading Down 10.6%

ASAN stock traded down $1.60 during mid-day trading on Friday, reaching $13.59. The company's stock had a trading volume of 7,405,388 shares, compared to its average volume of 3,627,566. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -15.27 and a beta of 1.11. The business's 50 day moving average price is $13.99 and its 200 day moving average price is $14.86. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16. Asana, Inc. has a 12 month low of $11.58 and a 12 month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.25). The business had revenue of $196.94 million during the quarter, compared to the consensus estimate of $193.01 million. Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The company's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. On average, equities research analysts predict that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ASAN. Bogart Wealth LLC purchased a new position in Asana in the second quarter worth $27,000. Banque Cantonale Vaudoise purchased a new position in Asana in the first quarter worth $28,000. AlphaQuest LLC boosted its position in Asana by 825.1% in the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after purchasing an additional 2,203 shares during the last quarter. Quarry LP lifted its position in shares of Asana by 104.8% during the 1st quarter. Quarry LP now owns 2,906 shares of the company's stock valued at $42,000 after buying an additional 1,487 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Asana by 64.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock valued at $59,000 after buying an additional 1,706 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ASAN. Robert W. Baird raised their price objective on shares of Asana from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, September 4th. Piper Sandler reiterated an "overweight" rating and set a $19.00 price target on shares of Asana in a research note on Thursday, September 4th. Morgan Stanley increased their price objective on Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Asana in a research report on Wednesday. Finally, Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $16.10.

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.

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