Insider Selling: Asana, Inc. (NYSE:ASAN) CFO Sells 28,856 Shares of Stock

Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan sold 28,856 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $11.44, for a total value of $330,112.64. Following the transaction, the chief financial officer now directly owns 1,050,284 shares of the company’s stock, valued at approximately $12,015,248.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Asana Stock Down 4.5 %

NYSE ASAN opened at $12.52 on Tuesday. The firm has a market cap of $2.86 billion, a PE ratio of -10.70 and a beta of 1.15. Asana, Inc. has a one year low of $11.29 and a one year high of $24.81. The stock’s 50 day simple moving average is $14.20 and its 200 day simple moving average is $16.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. The business 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%. As a group, sell-side analysts forecast that Asana, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Asana

A number of large investors have recently bought and sold shares of ASAN. Vanguard Group Inc. lifted its holdings in Asana by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company’s stock worth $144,462,000 after buying an additional 490,823 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in Asana by 26.9% during the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company’s stock worth $62,456,000 after buying an additional 854,355 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Asana by 15.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock worth $33,891,000 after buying an additional 235,135 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in Asana during the 4th quarter worth $25,246,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Asana by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock worth $13,236,000 after buying an additional 43,564 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ASAN. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price target on shares of Asana in a report on Friday, May 31st. Jefferies Financial Group cut their price target on Asana from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, May 31st. HSBC raised Asana from a “reduce” rating to a “hold” rating and cut their price target for the company from $16.00 to $14.00 in a report on Monday, June 3rd. Oppenheimer cut their price target on Asana from $28.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Finally, UBS Group cut their price target on Asana from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.75.

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.