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 company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief financial officer now owns 753,888 shares in the company, valued at $11,308,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Asana Stock Performance

ASAN stock opened at $15.08 on Friday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -12.88 and a beta of 1.22. The firm has a 50-day simple moving average of $16.24 and a two-hundred day simple moving average of $18.18. Asana, Inc. has a one year low of $13.34 and a one year high of $26.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 1.80.

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

Hedge Funds Weigh In On Asana

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Diversified Trust Co raised its position in shares of Asana by 59.0% in the 1st quarter. Diversified Trust Co now owns 34,085 shares of the company’s stock valued at $528,000 after purchasing an additional 12,650 shares during the last quarter. Strategic Planning Group LLC raised its position in shares of Asana by 36.5% in the 1st quarter. Strategic Planning Group LLC now owns 31,417 shares of the company’s stock valued at $487,000 after purchasing an additional 8,407 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Asana by 15.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock valued at $33,891,000 after purchasing an additional 235,135 shares during the last quarter. Virtu Financial LLC purchased a new position in Asana during the 4th quarter worth approximately $881,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Asana during the 4th quarter worth approximately $25,246,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.