Insider Selling: Asana, Inc. (NYSE:ASAN) CFO Sells 10,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the chief financial officer now directly owns 753,888 shares of the company’s stock, valued at approximately $11,308,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Asana Stock Up 3.1 %

Asana stock opened at $15.08 on Friday. The stock has a market capitalization of $3.39 billion, a PE ratio of -12.88 and a beta of 1.22. Asana, Inc. has a 12 month low of $13.34 and a 12 month high of $26.27. The business has a 50 day simple moving average of $16.24 and a 200-day simple moving average of $18.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.80 and a quick ratio of 1.80.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. The business had revenue of $171.14 million during the quarter, compared to analysts’ expectations of $167.59 million. On average, analysts anticipate that Asana, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ASAN shares. KeyCorp assumed coverage on Asana in a report on Thursday, March 21st. They set an “underweight” rating and a $14.00 target price for the company. Piper Sandler lifted their price target on Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Finally, Bank of America assumed coverage on Asana in a research report on Monday, February 26th. They set a “buy” rating and a $25.00 price target for the company. Four analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.67.

Institutional Trading of Asana

Several large investors have recently made changes to their positions in the company. CWM LLC increased its position in shares of Asana by 25.5% during the third quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after purchasing an additional 563 shares in the last quarter. Corton Capital Inc. increased its position in shares of Asana by 6.5% during the third quarter. Corton Capital Inc. now owns 11,017 shares of the company’s stock worth $202,000 after purchasing an additional 669 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Asana by 26.2% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after purchasing an additional 669 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Asana by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,243 shares of the company’s stock worth $689,000 after buying an additional 808 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Asana by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock worth $386,000 after buying an additional 828 shares during the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.