Asana, Inc. (NYSE:ASAN) Director Sells $322,250.00 in Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the transaction, the director now owns 922,309 shares of the company’s stock, valued at $11,888,563.01. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, February 24th, Justin Rosenstein sold 150,000 shares of Asana stock. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00.
• On Tuesday, February 4th, Justin Rosenstein sold 196,067 shares of Asana stock. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26.
• On Tuesday, January 28th, Justin Rosenstein sold 200,000 shares of Asana stock. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00.
• On Thursday, January 23rd, Justin Rosenstein sold 150,000 shares of Asana stock. The stock was sold at an average price of $20.01, for a total value of $3,001,500.00.

Asana Stock Performance

Shares of NYSE ASAN opened at $14.03 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The stock has a 50 day moving average of $19.83 and a 200-day moving average of $16.84. The company has a market capitalization of $3.21 billion, a P/E ratio of -12.52 and a beta of 1.13.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASAN. Quarry LP bought a new stake in Asana in the 4th quarter valued at $29,000. KBC Group NV lifted its position in shares of Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC bought a new stake in shares of Asana during the 3rd quarter valued at $43,000. Bogart Wealth LLC acquired a new position in shares of Asana during the 4th quarter worth $61,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Asana during the 4th quarter worth $82,000. 26.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ASAN has been the topic of several recent research reports. Oppenheimer raised their price target on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler reduced their target price on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group dropped their price target on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, March 11th. DA Davidson dropped their price target on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Scotiabank dropped their target price on Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and an average price target of $15.87.

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.