Justin Rosenstein Sells 150,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the transaction, the director now directly owns 2,047,309 shares of the company’s stock, valued at approximately $40,966,653.09. This trade represents a 6.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Asana Stock Up 2.0 %

ASAN stock opened at $20.05 on Tuesday. The business’s 50-day moving average price is $19.66 and its 200-day moving average price is $15.30. The stock has a market cap of $4.58 billion, a P/E ratio of -17.90 and a beta of 1.10. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ASAN shares. Robert W. Baird lifted their price target on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Citigroup increased their price target on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Scotiabank raised their price target on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Finally, Oppenheimer upped their price objective on 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 issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.73.

Hedge Funds Weigh In On Asana

Several large investors have recently added to or reduced their stakes in ASAN. KBC Group NV increased its stake in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in Asana in the 3rd quarter worth $43,000. MQS Management LLC purchased a new stake in Asana in the 3rd quarter worth $141,000. Paloma Partners Management Co bought a new stake in Asana during the third quarter valued at about $143,000. Finally, Scientech Research LLC purchased a new position in shares of Asana in the second quarter valued at about $146,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.