Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells 25,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the director now directly owns 922,309 shares in the company, valued at $11,888,563.01. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, February 24th, Justin Rosenstein sold 150,000 shares of Asana stock. The shares were 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 stock was sold at an average price of $21.78, for a total value 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 value 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 value of $3,001,500.00.

Asana Stock Performance

NYSE:ASAN opened at $14.25 on Thursday. The firm has a market capitalization of $3.26 billion, a PE ratio of -12.72 and a beta of 1.13. The stock’s fifty day moving average is $19.60 and its 200 day moving average is $16.83. 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.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vise Technologies Inc. boosted its stake in shares of Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after purchasing an additional 959 shares during the period. KBC Group NV boosted its position in shares of 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 buying an additional 1,211 shares during the period. Quarry LP bought a new position in shares of Asana during the fourth quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Asana by 5.8% in 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 during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Asana by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 49,483 shares of the company’s stock worth $1,003,000 after acquiring an additional 2,668 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of research analyst reports. Morgan Stanley cut their price objective on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Citigroup boosted their price target on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Scotiabank cut their price objective on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 11th. Finally, Bank of America decreased their target price on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.67.

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.