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

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.76, for a total transaction of $2,964,000.00. Following the sale, the director now directly owns 1,097,309 shares of the company’s stock, valued at $21,682,825.84. The trade was a 12.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00.

Asana Stock Up 0.1 %

Shares of ASAN opened at $19.23 on Friday. The stock has a market capitalization of $4.40 billion, a PE ratio of -17.17 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 company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company’s 50-day simple moving average is $20.98 and its 200-day simple moving average is $16.62.

Analysts Set New Price Targets

ASAN has been the subject of a number of analyst reports. Scotiabank upped their price objective on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. JMP Securities upped their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Robert W. Baird upped their price objective on shares of Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Oppenheimer upped their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $27.00 target price on shares of Asana in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.73.

Institutional Trading of Asana

Several hedge funds have recently made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Asana during the fourth quarter worth about $38,966,000. Paradice Investment Management LLC acquired a new stake in shares of Asana during the fourth quarter worth about $22,507,000. Two Sigma Investments LP lifted its position in shares of Asana by 288.1% during the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after purchasing an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after purchasing an additional 937,726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Asana during the fourth quarter worth about $11,781,000. 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.