Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan Sells 10,000 Shares

Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan sold 10,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $11,308,320. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Asana Trading Up 3.1 %

NYSE ASAN traded up $0.46 on Friday, hitting $15.08. 1,913,423 shares of the company were exchanged, compared to its average volume of 1,975,213. The firm has a market capitalization of $3.39 billion, a P/E ratio of -12.89 and a beta of 1.22. The company’s 50 day moving average price is $16.32 and its 200-day moving average price is $18.19. Asana, Inc. has a twelve month low of $13.34 and a twelve month high of $26.27. 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 results on Monday, March 11th. The company reported ($0.28) EPS for the quarter, topping 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 company had revenue of $171.14 million during the quarter, compared to analysts’ expectations of $167.59 million. Analysts predict that Asana, Inc. will post -1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Asana

Institutional investors have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Asana in the fourth quarter valued at $25,246,000. Vanguard Group Inc. boosted 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 in the last quarter. Norges Bank bought a new position in Asana during the 4th quarter valued at $7,500,000. Goldman Sachs Group Inc. boosted 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 worth $33,891,000 after buying an additional 235,135 shares in the last quarter. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Asana during the fourth quarter valued at $3,731,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASAN has been the topic of several research analyst reports. KeyCorp assumed coverage on shares of Asana in a research report on Thursday, March 21st. They set an “underweight” rating and a $14.00 price target on the stock. Bank of America initiated coverage on shares of Asana in a report on Monday, February 26th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Piper Sandler boosted their price target on shares of Asana from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.67.

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.