Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells 200,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 200,000 shares of Asana stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the sale, the director now directly owns 1,847,309 shares of the company’s stock, valued at approximately $40,031,186.03. This trade represents a 9.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 value of $3,001,500.00.

Asana Trading Down 0.1 %

NYSE ASAN opened at $21.33 on Friday. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50 day simple moving average of $20.24 and a two-hundred day simple moving average of $15.49. The stock has a market cap of $4.88 billion, a P/E ratio of -19.04 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JMP Securities increased their price target on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th. Robert W. Baird increased their target price on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price target on shares of Asana in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group boosted their target price on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.73.

Institutional Investors Weigh In On Asana

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in shares of Asana in the 2nd quarter valued at approximately $3,159,000. AQR Capital Management LLC lifted its stake in shares of Asana by 25.6% in the 2nd quarter. AQR Capital Management LLC now owns 32,503 shares of the company’s stock valued at $444,000 after purchasing an additional 6,634 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Asana by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after purchasing an additional 1,888 shares during the period. Scientech Research LLC purchased a new position in shares of Asana in the 2nd quarter valued at approximately $146,000. Finally, SG Americas Securities LLC purchased a new position in shares of Asana in the 3rd quarter valued at approximately $456,000. 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.