Insider Selling: Asana, Inc. (NYSE:ASAN) Insider Sells $64,737.05 in Stock

Asana, Inc. (NYSE:ASAN) insider Eleanor B. Lacey sold 4,999 shares of Asana stock in a transaction on Monday, June 24th. The stock was sold at an average price of $12.95, for a total transaction of $64,737.05. Following the completion of the transaction, the insider now directly owns 384,150 shares in the company, valued at $4,974,742.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Asana Stock Up 4.7 %

Shares of Asana stock opened at $13.60 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71. The company has a 50-day moving average of $14.13 and a 200 day moving average of $16.45. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -11.62 and a beta of 1.15. Asana, Inc. has a 1 year low of $11.29 and a 1 year high of $24.81.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASAN. DekaBank Deutsche Girozentrale purchased a new stake in Asana during the 3rd quarter valued at about $27,000. Edmond DE Rothschild Holding S.A. grew its position in Asana by 26.2% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after purchasing an additional 669 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Asana during the 4th quarter valued at about $147,000. Retirement Planning Co of New England Inc. purchased a new stake in Asana during the 1st quarter valued at about $164,000. Finally, Principal Financial Group Inc. purchased a new stake in Asana during the 1st quarter valued at about $173,000. 26.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ASAN. HSBC raised shares of Asana from a “reduce” rating to a “hold” rating and decreased their target price for the stock from $16.00 to $14.00 in a research note on Monday, June 3rd. UBS Group decreased their target price on shares of Asana from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. KeyCorp reduced their price objective on shares of Asana from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Oppenheimer reduced their price objective on shares of Asana from $28.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Finally, Piper Sandler raised shares of Asana from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $16.00 in a research report 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.