Justin Rosenstein Sells 200,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 200,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the sale, the director now owns 1,847,309 shares in the company, valued at $40,031,186.03. The trade was a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 value of $3,001,500.00.

Asana Stock Down 1.5 %

Shares of ASAN stock traded down $0.32 during trading on Thursday, hitting $21.38. 4,481,595 shares of the company were exchanged, compared to its average volume of 3,254,152. The business’s 50-day simple moving average is $20.11 and its 200 day simple moving average is $15.44. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of -19.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently modified their holdings of ASAN. KBC Group NV raised its position in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Asana in the 3rd quarter valued at $43,000. Bogart Wealth LLC acquired a new stake in shares of Asana in the 4th quarter valued at $61,000. MQS Management LLC acquired a new position in Asana during the third quarter worth $141,000. Finally, Paloma Partners Management Co bought a new position in Asana during the third quarter valued at about $143,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. 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. Jefferies Financial Group increased their target price on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 price target on shares of Asana in a research report on Friday, December 6th. Oppenheimer increased their price objective on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, DA Davidson lifted 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 investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.