Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells 150,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the transaction, the director now owns 2,047,309 shares in the company, valued at $40,966,653.09. The trade was a 6.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Asana Stock Up 9.5 %

ASAN stock opened at $21.98 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The firm has a fifty day moving average price of $19.79 and a two-hundred day moving average price of $15.34. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -19.62 and a beta of 1.10.

Institutional Trading of Asana

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV increased its stake 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 acquired a new position in shares of Asana during the third quarter valued at $43,000. Scientech Research LLC acquired a new position in shares of Asana during the second quarter valued at $146,000. Empirical Asset Management LLC acquired a new position in shares of Asana during the fourth quarter valued at $218,000. Finally, MQS Management LLC acquired a new position in shares of Asana during the third quarter valued at $141,000. Institutional investors own 26.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ASAN shares. Oppenheimer raised their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Scotiabank raised their price target on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. JMP Securities increased their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th. Robert W. Baird increased 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. Finally, Jefferies Financial Group increased their price objective on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Two 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.