Anne Raimondi Sells 26,588 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 26,588 shares of Asana stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $11.44, for a total value of $304,166.72. Following the completion of the transaction, the chief operating officer now owns 790,894 shares of the company’s stock, valued at approximately $9,047,827.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Asana Trading Up 1.1 %

ASAN opened at $12.66 on Wednesday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -10.82 and a beta of 1.16. Asana, Inc. has a 52 week low of $11.29 and a 52 week high of $24.81. The business’s 50 day moving average is $14.15 and its two-hundred day moving average is $16.49. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.13.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. The company had revenue of $172.45 million for the quarter, compared to analyst estimates of $168.53 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. On average, research analysts predict that Asana, Inc. will post -1.04 EPS for the current year.

Wall Street Analysts Forecast Growth

ASAN has been the subject of several recent research reports. UBS Group decreased their price objective on Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. HSBC upgraded Asana from a “reduce” rating to a “hold” rating and decreased their price objective for the company from $16.00 to $14.00 in a research note on Monday, June 3rd. Piper Sandler upgraded Asana from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $16.00 in a research note on Friday, May 31st. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Asana in a research note on Friday, May 31st. Finally, KeyCorp decreased their target price on Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.75.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Asana in the fourth quarter valued at approximately $25,246,000. Champlain Investment Partners LLC increased its holdings in shares of Asana by 26.9% in the first quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock valued at $62,456,000 after purchasing an additional 854,355 shares during the period. Vanguard Group Inc. increased its holdings in shares of Asana by 5.6% in the first quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock valued at $144,462,000 after purchasing an additional 490,823 shares during the period. Norges Bank acquired a new position in shares of Asana in the fourth quarter valued at approximately $7,500,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Asana by 15.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after purchasing an additional 235,135 shares during the period. 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.