Asana, Inc. (NYSE:ASAN) Director Sells $4,334,000.00 in Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Justin Rosenstein sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the sale, the director now directly owns 1,847,309 shares of the company's stock, valued at approximately $40,031,186.03. This represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 Trading Down 0.6 %

Shares of NYSE:ASAN traded down $0.13 during mid-day trading on Monday, reaching $21.22. 2,455,572 shares of the company were exchanged, compared to its average volume of 3,283,851. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. 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's 50-day simple moving average is $20.35 and its 200 day simple moving average is $15.55. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -18.94 and a beta of 1.10.

Analysts Set New Price Targets

Several research firms recently weighed in on ASAN. Piper Sandler raised shares of Asana from a "neutral" rating to an "overweight" rating and raised their target price for the company from $19.00 to $27.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on Asana from $13.00 to $15.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. Oppenheimer upped their price objective on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. JMP Securities increased their target price on Asana from $21.00 to $25.00 and gave the company a "market outperform" rating in a research report on Friday, December 6th. Finally, KeyCorp upgraded shares of Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Asana presently has a consensus rating of "Hold" and an average target price of $17.73.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently bought and sold shares of the stock. Paradice Investment Management LLC acquired a new position in Asana in the fourth quarter valued at approximately $22,507,000. JPMorgan Chase & Co. lifted its stake in Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock valued at $9,650,000 after buying an additional 427,576 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Asana in the second quarter valued at approximately $3,159,000. Holocene Advisors LP increased its holdings in shares of Asana by 62.2% in the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company's stock valued at $3,537,000 after acquiring an additional 116,998 shares during the period. Finally, Neo Ivy Capital Management raised its position in Asana by 195.1% in the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company's stock valued at $1,964,000 after purchasing an additional 112,038 shares during the last quarter. Institutional investors and hedge funds 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.