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

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following 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 position. The sale was disclosed in a document filed 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 transaction of $2,964,000.00.
• 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 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 shares were sold at an average price of $20.01, for a total value of $3,001,500.00.

Asana Stock Performance

ASAN stock traded up $0.15 during midday trading on Monday, hitting $14.03. The company’s stock had a trading volume of 3,665,271 shares, compared to its average volume of 2,542,817. The stock’s 50-day moving average price is $19.99 and its 200 day moving average price is $16.84. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -12.52 and a beta of 1.13. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77.

Analysts Set New Price Targets

A number of brokerages have commented on ASAN. Scotiabank reduced their price objective on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 11th. DA Davidson cut their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Bank of America decreased their price target on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group dropped their price objective on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. Finally, Robert W. Baird decreased their target price on shares of Asana from $23.00 to $13.00 and set a “neutral” 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 issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.87.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Asana during the 4th quarter valued at $29,000. KBC Group NV lifted its holdings in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the last quarter. Quest Partners LLC bought a new position in Asana during the third quarter worth about $43,000. Bogart Wealth LLC purchased a new position in shares of Asana in the fourth quarter worth about $61,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Asana in the fourth quarter valued at approximately $82,000. 26.21% of the stock is owned by institutional investors.

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.