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

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 200,000 shares of the business’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 owns 1,847,309 shares in the company, valued at $40,031,186.03. This represents a 9.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Stock Performance

Shares of NYSE ASAN opened at $21.38 on Friday. 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 52 week low of $11.05 and a 52 week high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -19.09 and a beta of 1.10.

Hedge Funds Weigh In On Asana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. Geode Capital Management LLC boosted its holdings in shares of Asana by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after buying an additional 12,055 shares during the period. JPMorgan Chase & Co. lifted its position in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after acquiring an additional 427,576 shares during the last quarter. Holocene Advisors LP boosted its holdings in Asana by 62.2% during the third 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. Marshall Wace LLP acquired a new stake in shares of Asana in the second quarter valued at about $3,159,000. Finally, Neo Ivy Capital Management increased its stake in shares of Asana by 195.1% in 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. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Scotiabank lifted their target price on Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Oppenheimer raised their price target on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Citigroup boosted their price objective on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley increased their target price on shares of Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Asana has a consensus rating of “Hold” and an average target price 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.