Justin Rosenstein Sells 25,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) Director Justin Rosenstein sold 25,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the director now directly owns 922,309 shares of the company’s stock, valued at $11,888,563.01. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Justin Rosenstein also recently made the following trade(s):

• On Monday, February 24th, Justin Rosenstein sold 150,000 shares of Asana stock. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00.
• On Tuesday, February 4th, Justin Rosenstein sold 196,067 shares of Asana stock. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26.
• On Tuesday, January 28th, Justin Rosenstein sold 200,000 shares of Asana stock. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00.
• 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 0.5 %

Shares of Asana stock opened at $14.00 on Wednesday. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s 50-day moving average is $19.71 and its 200 day moving average is $16.84. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -12.50 and a beta of 1.13.

Analyst Ratings Changes

A number of brokerages have issued reports on ASAN. Scotiabank lowered their target price on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. Jefferies Financial Group lowered their target price on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. Morgan Stanley decreased their price target on Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Piper Sandler decreased their price target on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Finally, Oppenheimer increased their price target on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn FI LLC bought a new position in Asana in the fourth quarter worth approximately $8,138,000. Vise Technologies Inc. boosted its holdings in Asana by 6.5% in the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after acquiring an additional 959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Asana by 12.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,025 shares of the company’s stock worth $4,582,000 after acquiring an additional 25,607 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after acquiring an additional 438,057 shares in the last quarter. Finally, Woodline Partners LP bought a new position in Asana in the fourth quarter worth approximately $1,745,000. Institutional investors 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.