Asana, Inc. (NYSE:ASAN) Director Sells $2,964,000.00 in Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $19.76, for a total transaction of $2,964,000.00. Following the sale, the director now directly owns 1,097,309 shares in the company, valued at approximately $21,682,825.84. This represents a 12.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, February 4th, Justin Rosenstein sold 196,067 shares of Asana stock. The shares were sold at an average price of $21.78, for a total transaction of $4,270,339.26.
• 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 transaction of $4,334,000.00.
• 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 transaction of $3,001,500.00.

Asana Stock Performance

NYSE:ASAN opened at $19.23 on Friday. 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 company has a fifty day moving average of $20.98 and a two-hundred day moving average of $16.62. The stock has a market capitalization of $4.40 billion, a PE ratio of -17.17 and a beta of 1.11. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Hedge Funds Weigh In On Asana

A number of large investors have recently added to or reduced their stakes in the stock. Vise Technologies Inc. raised its position in Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after acquiring an additional 959 shares during the period. KBC Group NV grew its holdings in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares in the last quarter. Quarry LP purchased a new stake in shares of Asana during the fourth quarter worth $29,000. Harbor Capital Advisors Inc. grew its holdings in shares of Asana by 16.1% during the third quarter. Harbor Capital Advisors Inc. now owns 16,974 shares of the company’s stock worth $197,000 after buying an additional 2,350 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Asana by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock worth $937,000 after buying an additional 2,538 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on ASAN shares. Morgan Stanley upped their price objective on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Friday, December 6th. Jefferies Financial Group upped their price objective on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 6th. Oppenheimer boosted their target price on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Robert W. Baird boosted their target price on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.73.

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.