Eleanor B. Lacey Sells 4,999 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) insider Eleanor B. Lacey sold 4,999 shares of Asana stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $12.95, for a total value of $64,737.05. Following the sale, the insider now directly owns 384,150 shares in the company, valued at $4,974,742.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Asana Price Performance

Shares of Asana stock opened at $13.00 on Thursday. Asana, Inc. has a one year low of $11.29 and a one year high of $24.81. The stock’s fifty day moving average is $14.14 and its 200 day moving average is $16.47. The stock has a market cap of $2.97 billion, a P/E ratio of -11.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.71 and a current ratio of 1.71.

Asana (NYSE:ASAN) last announced its 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. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. The company had revenue of $172.45 million for the quarter, compared to analysts’ expectations of $168.53 million. Sell-side analysts anticipate that Asana, Inc. will post -1.04 earnings per share for the current year.

Hedge Funds Weigh In On Asana

Institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new position in Asana in the 3rd quarter worth $27,000. Edmond DE Rothschild Holding S.A. increased its stake in Asana by 26.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after buying an additional 669 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Asana in the 4th quarter worth $147,000. Retirement Planning Co of New England Inc. purchased a new stake in Asana in the 1st quarter worth $164,000. Finally, Principal Financial Group Inc. purchased a new stake in Asana in the 1st quarter worth $173,000. 26.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ASAN has been the topic of several analyst reports. UBS Group lowered their price objective on Asana from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Oppenheimer lowered their price objective on Asana from $28.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Citigroup lowered their price objective on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Asana in a research report on Friday, May 31st. Finally, Jefferies Financial Group lowered their price objective on Asana from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.33.

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.