Asana, Inc. (NYSE:ASAN) COO Anne Raimondi Sells 27,016 Shares

Asana, Inc. (NYSE:ASAN) COO Anne Raimondi sold 27,016 shares of Asana stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $13.17, for a total value of $355,800.72. Following the completion of the transaction, the chief operating officer now owns 889,936 shares in the company, valued at $11,720,457.12. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Asana Stock Performance

ASAN opened at $12.96 on Thursday. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The stock has a market cap of $3.05 billion, a P/E ratio of -12.96 and a beta of 1.23. The stock’s 50 day simple moving average is $15.92 and its 200 day simple moving average is $18.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The company had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. During the same period in the previous year, the business earned ($0.06) earnings per share. Asana’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Asana

Large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its position in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after acquiring an additional 937,726 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company’s stock valued at $155,261,000 after purchasing an additional 475,100 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after purchasing an additional 438,057 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Asana during the 4th quarter worth approximately $38,966,000. Finally, First Trust Advisors LP raised its position in shares of Asana by 17.6% during the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock worth $35,350,000 after purchasing an additional 261,298 shares during the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ASAN. Piper Sandler increased their price target on Asana from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. JMP Securities restated a “market outperform” rating and issued a $22.00 target price on shares of Asana in a research note on Wednesday, June 4th. KeyCorp reiterated a “sector weight” rating on shares of Asana in a research note on Wednesday, June 4th. Robert W. Baird increased their price target on shares of Asana from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Finally, DA Davidson reduced their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Asana presently has a consensus rating of “Hold” and a consensus target price of $15.97.

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.