Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells 150,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the sale, the director now owns 1,097,309 shares of the company’s stock, valued at approximately $21,682,825.84. This represents a 12.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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 shares were 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 shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00.

Asana Stock Performance

ASAN stock traded up $0.50 on Wednesday, reaching $19.48. 1,353,665 shares of the company were exchanged, compared to its average volume of 3,042,207. The firm has a market capitalization of $4.45 billion, a PE ratio of -17.39 and a beta of 1.11. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The stock’s fifty day moving average price is $21.17 and its 200 day moving average price is $16.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Analysts Set New Price Targets

Several research analysts have recently commented on ASAN shares. Royal Bank of Canada restated an “underperform” rating and set a $10.00 price target on shares of Asana in a research note on Friday, December 6th. Piper Sandler reissued an “overweight” rating and set a $27.00 target price on shares of Asana in a research report on Thursday, February 6th. Citigroup raised their target price on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. JMP Securities upped their price target on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group raised their price objective on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two research 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, the company currently has a consensus rating of “Hold” and a consensus target price of $17.73.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its position in Asana by 16.1% during the third quarter. Harbor Capital Advisors Inc. now owns 16,974 shares of the company’s stock worth $197,000 after buying an additional 2,350 shares in the last quarter. Olympiad Research LP bought a new stake in shares of Asana in the 3rd quarter worth approximately $792,000. GSA Capital Partners LLP acquired a new stake in shares of Asana during the 3rd quarter worth approximately $497,000. MQS Management LLC bought a new stake in shares of Asana during the third quarter valued at approximately $141,000. Finally, KBC Group NV increased its position in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the period. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.