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

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the director now owns 922,309 shares in the company, valued at approximately $11,888,563.01. The trade was a 2.64 % decrease in their ownership of the stock. The sale 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 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 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 stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00.

Asana Trading Up 1.1 %

Shares of ASAN stock traded up $0.15 during mid-day trading on Monday, reaching $14.03. 3,665,271 shares of the stock traded hands, compared to its average volume of 2,542,817. The stock’s fifty day simple moving average is $19.99 and its two-hundred day simple moving average is $16.84. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -12.52 and a beta of 1.13.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently bought and sold shares of ASAN. Voya Investment Management LLC raised its holdings in Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after purchasing an additional 937,726 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after buying an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Asana during the fourth quarter worth $38,966,000. Geode Capital Management LLC lifted its holdings in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after buying an additional 12,055 shares during the period. Finally, First Trust Advisors LP boosted its position in Asana by 17.6% during the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock valued at $35,350,000 after acquiring an additional 261,298 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. DA Davidson lowered their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. JMP Securities lifted their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a research note on Friday, December 6th. Piper Sandler reduced their target price on shares of Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Finally, Robert W. Baird cut their price objective on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.87.

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.