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 on Wednesday, July 17th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,050,284 shares of the company’s stock, valued at approximately $15,754,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Asana Stock Performance

Shares of ASAN opened at $14.41 on Monday. Asana, Inc. has a 12 month low of $11.29 and a 12 month high of $24.81. The stock’s 50-day moving average is $13.74 and its two-hundred day moving average is $15.79. 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 stock has a market cap of $3.29 billion, a PE ratio of -12.32 and a beta of 1.16.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. The firm had revenue of $172.45 million for the quarter, compared to analyst estimates of $168.53 million. Asana had a negative return on equity of 77.48% and a negative net margin of 38.55%. Equities analysts forecast that Asana, Inc. will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. lifted its holdings in Asana by 26.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock worth $61,000 after buying an additional 669 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Asana during the fourth quarter worth about $147,000. Retirement Planning Co of New England Inc. acquired a new position in shares of Asana in the first quarter worth about $164,000. Principal Financial Group Inc. purchased a new position in Asana in the first quarter valued at about $173,000. Finally, Victory Capital Management Inc. acquired a new stake in Asana during the 4th quarter valued at approximately $197,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ASAN. Citigroup lowered their price target on Asana from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. KeyCorp lowered their target price on shares of Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, May 31st. JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price target on shares of Asana in a research note on Monday, July 15th. Jefferies Financial Group lowered their price objective on shares of Asana from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Finally, UBS Group reduced their target price on Asana from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.17.

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.