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

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $11,888,563.01. The trade was a 2.64 % decrease in their position. The transaction 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 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 shares were 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 Up 1.7 %

ASAN stock opened at $14.25 on Thursday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -12.72 and a beta of 1.13. 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 business’s 50-day moving average is $19.60 and its two-hundred 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.

Analysts Set New Price Targets

ASAN has been the subject of several recent analyst reports. UBS Group lowered their price target on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Morgan Stanley decreased their target price 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. Jefferies Financial Group cut their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, March 11th. JMP Securities set a $22.00 price target on shares of Asana in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.67.

Hedge Funds Weigh In On Asana

Institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership purchased a new stake in Asana during the fourth quarter valued at approximately $38,966,000. Paradice Investment Management LLC bought a new stake in shares of Asana during the 4th quarter valued at $22,507,000. Two Sigma Investments LP increased its stake in shares of Asana by 288.1% in the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after purchasing an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC raised its holdings in Asana by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after purchasing an additional 937,726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Asana during the fourth quarter valued at $11,781,000. 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.