Insider Selling: Asana, Inc. (NYSE:ASAN) Director Sells $3,001,500.00 in Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the transaction, the director now owns 2,047,309 shares of the company’s stock, valued at $40,966,653.09. This represents a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Asana Stock Down 1.0 %

NYSE:ASAN opened at $21.77 on Thursday. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -19.43 and a beta of 1.10. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The stock’s 50 day moving average price is $19.95 and its two-hundred day moving average price is $15.40.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently added to or reduced their stakes in ASAN. JPMorgan Chase & Co. raised 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 period. XTX Topco Ltd bought a new stake in Asana in the 3rd quarter valued at $538,000. Susquehanna Fundamental Investments LLC acquired a new stake in Asana during the 2nd quarter valued at $3,050,000. Neo Ivy Capital Management boosted its position in Asana by 195.1% during the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after purchasing an additional 112,038 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Asana during the second quarter worth $17,100,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ASAN. Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 price target on shares of Asana in a report on Friday, December 6th. Morgan Stanley boosted their price objective on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price for the company in a report on Friday, December 6th. Scotiabank boosted their price target on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective on Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Two investment 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. According to data from MarketBeat, Asana has a consensus rating of “Hold” and a consensus 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.