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

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 25,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the sale, the director now directly owns 922,309 shares of the company's stock, valued at approximately $11,888,563.01. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, February 24th, Justin Rosenstein sold 150,000 shares of Asana stock. The stock was sold at an average price of $19.76, for a total value 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 shares were sold at an average price of $20.01, for a total value of $3,001,500.00.

Asana Trading Up 3.1 %

NYSE ASAN traded up $0.44 during mid-day trading on Friday, hitting $14.44. The company's stock had a trading volume of 2,161,641 shares, compared to its average volume of 2,565,334. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The stock's fifty day simple moving average is $19.49 and its two-hundred day simple moving average is $16.81. 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 firm has a market capitalization of $3.30 billion, a P/E ratio of -12.91 and a beta of 1.13.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. JMP Securities set a $22.00 price target on shares of Asana in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their target price on shares of Asana from $15.00 to $13.00 and set an "underweight" rating on the stock 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 on the stock in a research report on Wednesday, March 12th. Finally, Bank of America decreased their target price on shares of Asana from $30.00 to $25.00 and set a "buy" 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 assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Asana presently has a consensus rating of "Hold" and an average price target of $15.67.

Institutional Trading of Asana

A number of hedge funds have recently made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Asana during the fourth quarter valued at approximately $38,966,000. Paradice Investment Management LLC purchased a new stake in shares of Asana during the fourth quarter valued at approximately $22,507,000. Two Sigma Investments LP increased its stake in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after buying an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after buying an additional 937,726 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Asana in the fourth quarter worth $11,781,000. Hedge funds and other 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.