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

Asana, Inc. (NYSE:ASAN) CFO Tim M. Wan sold 10,000 shares of the 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 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 filing with the SEC, which can be accessed through this hyperlink.

Asana Stock Performance

Shares of ASAN traded up $0.46 during mid-day trading on Friday, reaching $15.08. The company’s stock had a trading volume of 1,913,423 shares, compared to its average volume of 1,975,213. Asana, Inc. has a 1-year low of $13.34 and a 1-year high of $26.27. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $16.32 and a two-hundred day simple moving average of $18.19. The stock has a market cap of $3.39 billion, a P/E ratio of -12.89 and a beta of 1.22.

Asana (NYSE:ASAN) last issued its earnings results on Monday, March 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $171.14 million during the quarter, compared to analyst estimates of $167.59 million. As a group, equities research analysts anticipate that Asana, Inc. will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently bought and sold shares of the stock. CWM LLC grew its position in Asana by 25.5% in the third quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after acquiring an additional 563 shares in the last quarter. Corton Capital Inc. boosted its holdings in Asana by 6.5% during the 3rd quarter. Corton Capital Inc. now owns 11,017 shares of the company’s stock valued at $202,000 after acquiring an additional 669 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Asana by 26.2% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after purchasing an additional 669 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Asana by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,243 shares of the company’s stock worth $689,000 after purchasing an additional 808 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in Asana by 4.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,319 shares of the company’s stock valued at $386,000 after acquiring an additional 828 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ASAN. KeyCorp began coverage on shares of Asana in a research report on Thursday, March 21st. They set an “underweight” rating and a $14.00 price objective on the stock. Piper Sandler upped their target price on shares of Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Finally, Bank of America began coverage on Asana in a research note on Monday, February 26th. They issued a “buy” rating and a $25.00 price target for the company. 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.