Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein Sells 25,000 Shares

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 922,309 shares in the company, valued at approximately $11,888,563.01. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 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 shares were 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 stock was sold at an average price of $20.01, for a total transaction of $3,001,500.00.

Asana Price Performance

NYSE:ASAN opened at $14.03 on Tuesday. The business’s 50-day moving average price is $19.83 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 firm has a market cap of $3.21 billion, a P/E ratio of -12.52 and a beta of 1.13. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Institutional Trading of Asana

Several institutional investors and hedge funds have recently bought and sold shares of ASAN. Brooklyn FI LLC acquired a new position in shares of Asana in the 4th quarter valued at about $8,138,000. Vise Technologies Inc. boosted its position in Asana by 6.5% during the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Asana by 12.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,025 shares of the company’s stock worth $4,582,000 after purchasing an additional 25,607 shares during the period. Voloridge Investment Management LLC boosted its position in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after purchasing an additional 438,057 shares during the period. Finally, Woodline Partners LP bought a new stake in Asana during the fourth quarter worth approximately $1,745,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “underperform” rating and set a $10.00 price objective on shares of Asana in a report on Friday, December 6th. Bank of America lowered their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. DA Davidson lowered their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Finally, Scotiabank decreased their price target on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.87.

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.