Justin Rosenstein Sells 458,878 Shares of Asana (NYSE:ASAN) Stock

Key Points

• Justin Rosenstein, a director at Asana, sold 458,878 shares of the company at an average price of $14.98, totaling approximately $6.87 million, resulting in a 29.77% decrease in his ownership of the stock.
• Asana reported earnings of ($0.20) per share, missing analysts' estimates, despite revenues of $196.94 million, representing a 9.9% year-over-year increase.
• Currently, Asana has a market cap of $3.46 billion and a consensus analyst rating of "Hold" with an average price target of $16.10.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 458,878 shares of the business's stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $14.98, for a total transaction of $6,873,992.44. Following the completion of the sale, the director owned 1,082,547 shares in the company, valued at approximately $16,216,554.06. This trade represents a 29.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, October 10th, Justin Rosenstein sold 14,500 shares of Asana stock. The shares were sold at an average price of $15.07, for a total value of $218,515.00.
• 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 Wednesday, October 8th, Justin Rosenstein sold 454,913 shares of Asana stock. The shares were sold at an average price of $15.08, for a total transaction of $6,860,088.04.
• 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 transaction 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 transaction of $3,353,932.12.

Asana Trading Up 2.4%

Asana stock traded up $0.35 during mid-day trading on Thursday, hitting $14.67. The company's stock had a trading volume of 2,235,643 shares, compared to its average volume of 3,591,812. The stock has a market cap of $3.46 billion, a PE ratio of -16.48 and a beta of 1.11. Asana, Inc. has a one year low of $11.58 and a one year high of $27.77. The company has a 50 day moving average of $14.05 and a 200-day moving average of $14.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41.

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). Asana had a negative net margin of 27.50% and a negative return on equity of 83.88%. The firm had revenue of $196.94 million for the quarter, compared to the consensus estimate of $193.01 million. During the same period last year, the firm earned ($0.05) earnings per share. The company's revenue for the quarter was up 9.9% on a year-over-year basis. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. On average, research analysts anticipate that Asana, Inc. will post -1.09 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ASAN shares. Robert W. Baird raised their target price on Asana from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, September 4th. Morgan Stanley raised their target price on Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a report on Thursday, September 4th. Wall Street Zen lowered shares of Asana from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Weiss Ratings restated a "sell (e+)" rating on shares of Asana in a research report on Wednesday, October 8th. Finally, Piper Sandler restated an "overweight" rating and issued a $19.00 price objective on shares of Asana in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $16.10.

Hedge Funds Weigh In On Asana

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Asana during the first quarter worth approximately $223,000. Diversified Trust Co purchased a new position in shares of Asana during the 1st quarter valued at $190,000. Teacher Retirement System of Texas raised its position in Asana by 27.3% during the first quarter. Teacher Retirement System of Texas now owns 82,293 shares of the company's stock valued at $1,199,000 after acquiring an additional 17,649 shares in the last quarter. Cerity Partners LLC acquired a new position in Asana during the first quarter valued at approximately $225,000. Finally, CWM LLC increased its stake in shares of Asana by 436.0% in the first quarter. CWM LLC now owns 20,190 shares of the company's stock worth $294,000 after purchasing an additional 16,423 shares during the period. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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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