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

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the sale, the director now directly owns 922,309 shares of the company’s stock, valued at approximately $11,888,563.01. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was 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 Price Performance

Asana stock opened at $14.00 on Wednesday. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The business has a fifty day moving average price of $19.71 and a 200-day moving average price of $16.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $3.20 billion, a P/E ratio of -12.50 and a beta of 1.13.

Hedge Funds Weigh In On Asana

A number of large investors have recently made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership bought a new position in shares of Asana in the fourth quarter worth $38,966,000. Paradice Investment Management LLC bought a new position in shares of Asana in the fourth quarter worth $22,507,000. Two Sigma Investments LP boosted its holdings in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after acquiring an additional 1,043,047 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after acquiring an additional 937,726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Asana in the fourth quarter worth $11,781,000. 26.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ASAN. UBS Group decreased their price target on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Citigroup increased their price target on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. JMP Securities set a $22.00 price target on Asana in a research report on Tuesday, March 11th. Bank of America decreased their price target on Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank decreased their price target on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 11th. Two equities 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 $15.67.

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.