Justin Rosenstein Sells 150,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 150,000 shares of Asana stock in a transaction on Monday, February 24th. The shares were sold at an average price of $19.76, for a total value of $2,964,000.00. Following the sale, the director now directly owns 1,097,309 shares of the company’s stock, valued at approximately $21,682,825.84. The trade was a 12.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00.

Asana Trading Down 1.3 %

Shares of ASAN opened at $19.23 on Friday. The stock’s 50-day moving average price is $21.03 and its 200 day moving average price is $16.57. 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 capitalization of $4.40 billion, a price-to-earnings ratio of -17.17 and a beta of 1.11. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vise Technologies Inc. lifted its position in Asana by 6.5% in 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. KBC Group NV raised its stake in shares of Asana by 52.1% in the 3rd 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 in the last quarter. Quarry LP bought a new position in shares of Asana during the 4th quarter worth about $29,000. Harbor Capital Advisors Inc. boosted its position in shares of Asana by 16.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,974 shares of the company’s stock valued at $197,000 after acquiring an additional 2,350 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Asana by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock valued at $937,000 after acquiring an additional 2,538 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ASAN. Oppenheimer boosted their target price on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Citigroup increased their target price on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Asana in a research report on Thursday, February 6th. JMP Securities increased their price objective on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Finally, DA Davidson boosted 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 research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Asana currently has an average rating of “Hold” and a consensus price target of $17.73.

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.