A company insider recently sold 377 shares of Asana Inc. [ASAN]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Asana Inc. shares valued at $9,353 were sold by LACEY ELEANOR B on Sep 16. At $24.81 per share, LACEY ELEANOR B sold 377 shares. The insider’s holdings dropped to 170,462 shares worth approximately $3.94 million following the completion of this transaction.


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Also, Moskovitz Dustin A. purchased 19,273,127 shares, netting a total of over 349,999,986 in proceeds. Following the buying of shares at $18.16 each, the insider now holds 39,112,803 shares.

Before that, Wan Tim M had sold 3,203 shares from its account. In a trade valued at $58,295, the Chief Financial Officer traded Asana Inc. shares for $18.20 each. Upon closing the transaction, the insider’s holdings decreased to 3,203 shares, worth approximately $14.07 million.

As published in their initiating research note from Citigroup on September 01, 2022, Asana Inc. [ASAN] has been a Neutral and the price target has been revised to $23. This represents a -0.39% premium over Wednesday’s closing price. Analysts at RBC Capital Mkts downgraded the stock from ‘”a Sector perform”‘ to ‘”an Underperform”‘ outlook in a report released in mid July. As of March 10, 2022, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for ASAN. Earlier on January 12, 2022, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for ASAN stock.

Analyzing ASAN’s Price Performance

On Wednesday, Asana Inc. [NYSE: ASAN] plunged -3.15% to $23.09. The stock’s lowest price that day was $22.84, but it reached a high of $24.86 in the same session. During the last five days, there has been a drop of approximately -8.30%. Over the course of the year, Asana Inc. shares have dropped approximately -69.03%. Shares of the company reached a 52-week high of $76.93 on 01/03/22 and a 52-week low of $16.19 on 07/19/22. A 50-day SMA is recorded $21.72, while a 200-day SMA reached $36.99. Nevertheless, trading volume fell to 5.52 million shares from 6.0 million shares the previous day.

Support And Resistance Levels for Asana Inc. (ASAN)

According to the 24-hour chart, there is a support level at 22.33, which, if violated, would cause prices to drop to 21.58. In the upper region, resistance lies at 24.35. The next price resistance is at 25.62. RSI (Relative Strength Index) is 50.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.99, which suggests the price will decrease in the coming days. Percent R is at 49.05%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Asana Inc. subject to short interest?

Stocks of Asana Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.28 million shares to 13.29 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.57 million shares. A decline of -2.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.36 of the overall float, the days-to-cover ratio (short ratio) decline to 4.36.

Which companies own the most shares of Asana Inc. (ASAN)?

According to The Vanguard Group, Inc. filings, the company currently owns 6,523,707 shares, which is about 6.23% of the total ASAN shares outstanding. The investor’s shares have appreciated by 283,548 from its previous 13-F filing of 6240159.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $93,616,537. Champlain Investment Partners LLC reduced a -14.41% interest valued at $93.56 million while Himension Capital 4,231,366 stake. In its current portfolio, Arrowstreet Capital LP holds 1,629,476 shares valued at $31.2 million.

In terms of Asana Inc. share price expectations, FactSet research, analysts set an average price target of $28.52 in the next 12 months, up nearly 17.45% from the previous closing price of $23.84. Analysts anticipate Asana Inc. stock to reach $43.00 by 2022, with the lowest price target being $15.00. In spite of this, 13 analysts ranked Asana Inc. stock as an Overweight at the end of 2022. On January 05, 2022, DA Davidson assigned a price target of “a Neutral” to the stock and initiated coverage with a $65.

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