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

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the transaction, 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 filing with the SEC, which is available at 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 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 Trading Up 2.6 %

Shares of ASAN stock traded up $0.50 during trading hours on Wednesday, reaching $19.48. 1,353,665 shares of the stock traded hands, compared to its average volume of 3,042,207. 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 $4.45 billion, a PE ratio of -17.39 and a beta of 1.11. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The business has a fifty day moving average price of $21.17 and a 200 day moving average price of $16.53.

Analyst Ratings Changes

A number of research firms recently commented on ASAN. JPMorgan Chase & Co. raised their price objective on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Scotiabank lifted their price target on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective on shares of Asana in a report on Thursday, February 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 note on Friday, December 6th. Finally, JMP Securities boosted their price target on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.73.

Institutional Trading of Asana

Several large investors have recently added to or reduced their stakes in ASAN. Quarry LP acquired a new stake in shares of Asana in the fourth quarter worth $29,000. KBC Group NV boosted its position in Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC purchased a new position in Asana during the 3rd quarter valued at about $43,000. Bogart Wealth LLC acquired a new position in shares of Asana in the 4th quarter valued at about $61,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Asana in the fourth quarter worth approximately $82,000. 26.21% of the stock is owned by institutional investors and hedge funds.

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.