Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells 200,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 200,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total value of $4,334,000.00. Following the completion of the sale, the director now directly owns 1,847,309 shares of the company’s stock, valued at $40,031,186.03. This represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, January 23rd, Justin Rosenstein sold 150,000 shares of Asana stock. The shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00.

Asana Trading Down 1.5 %

Shares of NYSE ASAN traded down $0.32 during midday trading on Thursday, reaching $21.38. 4,481,595 shares of the stock were exchanged, compared to its average volume of 3,254,152. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The business has a 50-day simple moving average of $20.11 and a two-hundred day simple moving average of $15.44. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of -19.09 and a beta of 1.10.

Hedge Funds Weigh In On Asana

Institutional investors have recently modified their holdings of the business. KBC Group NV raised its holdings in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares during the period. Quest Partners LLC bought a new stake in shares of Asana during the third quarter worth $43,000. Bogart Wealth LLC acquired a new stake in shares of Asana during the fourth quarter worth $61,000. MQS Management LLC bought a new stake in Asana in the 3rd quarter valued at $141,000. Finally, Paloma Partners Management Co acquired a new position in Asana in the 3rd quarter worth $143,000. Institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ASAN shares. Oppenheimer boosted their price objective on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Piper Sandler upgraded Asana from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $27.00 in a research report on Monday, January 6th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective on the stock in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their target price on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Finally, Scotiabank increased their price objective on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.73.

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.