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

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 150,000 shares of the company's stock in a transaction 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 transaction, the director now owns 2,047,309 shares of the company's stock, valued at approximately $40,966,653.09. The trade was a 6.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Asana Price Performance

Shares of ASAN stock traded up $0.40 during trading hours on Monday, hitting $20.05. 6,653,165 shares of the company's stock were exchanged, compared to its average volume of 3,070,168. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -17.90 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The stock's 50-day moving average is $19.66 and its 200-day moving average is $15.30.

Institutional Investors Weigh In On Asana

Hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV boosted 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 purchasing an additional 1,211 shares during the last quarter. Quest Partners LLC bought a new position in Asana in the third quarter valued at approximately $43,000. MQS Management LLC acquired a new stake in Asana during the 3rd quarter worth $141,000. Paloma Partners Management Co bought a new stake in shares of Asana during the 3rd quarter valued at $143,000. Finally, Scientech Research LLC acquired a new position in shares of Asana in the 2nd quarter valued at $146,000. Institutional investors own 26.21% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ASAN. Oppenheimer increased their target price on shares of Asana from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated an "underperform" rating and issued a $10.00 price objective on shares of Asana in a research report on Friday, December 6th. JMP Securities boosted their price objective on Asana from $21.00 to $25.00 and gave the company a "market outperform" rating in a research report on Friday, December 6th. KeyCorp raised Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 target price for the company in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Asana from $13.00 to $15.00 and gave the stock an "underweight" rating in a research note on Friday, December 6th. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.