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

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 196,067 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the sale, the director now owns 1,651,242 shares in the company, valued at approximately $35,964,050.76. The trade was a 10.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $21.67, for a total transaction 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 Down 1.7 %

Shares of ASAN traded down $0.38 during mid-day trading on Thursday, hitting $21.77. The company’s stock had a trading volume of 2,536,870 shares, compared to its average volume of 3,174,365. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The company’s 50-day moving average is $20.73 and its 200-day moving average is $15.70. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -19.44 and a beta of 1.11.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ASAN. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. JMP Securities boosted their price objective 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. Jefferies Financial Group boosted their price objective on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Robert W. Baird boosted their price objective on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup lifted their target price on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Paradice Investment Management LLC purchased a new position in shares of Asana in the fourth quarter worth about $22,507,000. JPMorgan Chase & Co. increased its position in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares during the last quarter. Holocene Advisors LP increased its position in shares of Asana by 62.2% during the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after acquiring an additional 116,998 shares during the last quarter. Neo Ivy Capital Management increased its position in shares of Asana by 195.1% during the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after acquiring an additional 112,038 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Asana in the fourth quarter valued at approximately $1,779,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.