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

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

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 value 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

NYSE:ASAN opened at $21.77 on Friday. The stock has a market cap of $4.98 billion, a P/E ratio of -19.44 and a beta of 1.11. 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 stock’s 50-day moving average is $20.73 and its 200-day moving average is $15.70. 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 research firms have recently weighed in on ASAN. Piper Sandler raised Asana from a “neutral” rating to an “overweight” rating and increased their price target for the company from $19.00 to $27.00 in a research note on Monday, January 6th. Robert W. Baird upped 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. Royal Bank of Canada reiterated an “underperform” rating and set a $10.00 target price on shares of Asana in a report on Friday, December 6th. Scotiabank increased their target price on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Finally, DA Davidson increased their target price on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Asana presently has an average rating of “Hold” and a consensus target price of $17.73.

Hedge Funds Weigh In On Asana

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after purchasing an additional 12,055 shares during the period. Paradice Investment Management LLC bought a new position in Asana during the 4th quarter worth approximately $22,507,000. JPMorgan Chase & Co. grew its position in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after acquiring an additional 427,576 shares during the last quarter. Bank of New York Mellon Corp grew its position in Asana by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company’s stock worth $16,331,000 after acquiring an additional 11,896 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Asana by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock worth $14,083,000 after acquiring an additional 48,831 shares during the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

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.