Justin Rosenstein Sells 196,067 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 196,067 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26. Following the completion of the transaction, the director now directly owns 1,651,242 shares in the company, valued at approximately $35,964,050.76. This represents a 10.61 % decrease in their ownership of the stock. The sale 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 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 Stock Performance

Shares of Asana stock opened at $21.76 on Friday. The company has a market capitalization of $4.98 billion, a PE ratio of -19.43 and a beta of 1.11. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The stock’s fifty day moving average is $20.87 and its two-hundred day moving average is $15.74. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ASAN. Citigroup increased their price objective on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. JMP Securities boosted their target price on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group raised their price target on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 6th. Scotiabank raised their target price on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Finally, Oppenheimer upped their target price on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.73.

Institutional Investors Weigh In On Asana

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Asana by 0.7% during 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. Paradice Investment Management LLC bought a new position in Asana in the fourth quarter worth approximately $22,507,000. JPMorgan Chase & Co. lifted its holdings in Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after buying an additional 427,576 shares during the period. Bank of New York Mellon Corp boosted its position in Asana by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company’s stock valued at $16,331,000 after acquiring an additional 11,896 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Asana by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock valued at $14,083,000 after acquiring an additional 48,831 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.