Asana, Inc. (NYSE:ASAN) CFO Sells $150,000.00 in Stock

Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan sold 10,000 shares of Asana stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the chief financial officer now directly owns 753,888 shares of the company’s stock, valued at $11,308,320. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Asana Stock Performance

Shares of ASAN opened at $15.08 on Friday. The stock has a 50 day moving average price of $16.24 and a 200 day moving average price of $18.18. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -12.88 and a beta of 1.22. Asana, Inc. has a 52-week low of $13.34 and a 52-week high of $26.27.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on ASAN. Bank of America began coverage on Asana in a research report on Monday, February 26th. They issued a “buy” rating and a $25.00 target price for the company. KeyCorp began coverage on Asana in a research report on Thursday, March 21st. They issued an “underweight” rating and a $14.00 target price for the company. Finally, Piper Sandler lifted their target price on Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Asana presently has an average rating of “Hold” and a consensus price target of $20.67.

Institutional Investors Weigh In On Asana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Asana by 4.9% in the third quarter. Vanguard Group Inc. now owns 9,213,830 shares of the company’s stock valued at $168,705,000 after buying an additional 434,003 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Asana by 15.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after buying an additional 235,135 shares during the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new stake in Asana in the fourth quarter valued at approximately $25,246,000. Charles Schwab Investment Management Inc. lifted its stake in Asana by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company’s stock valued at $13,236,000 after buying an additional 43,564 shares during the last quarter. Finally, Norges Bank purchased a new stake in Asana in the fourth quarter valued at approximately $7,500,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.