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Director Justin Rosenstein of Asana, Inc. (NYSE:ASAN) sold a total of 1,695,804 shares of Class A Common Stock on July 22 and 23. The sales, which totaled approximately $25.5 million, were executed at weighted average prices ranging from $14.95 to $15.205 per share. According to InvestingPro data, Asana maintains impressive gross profit margins of 89.4% and currently trades at a market capitalization of $3.52 billion. The stock appears slightly undervalued based on InvestingPro’s Fair Value analysis.
On July 22, Rosenstein sold 966,576 shares at a weighted average price of $15.0392, for a total value of $14,536,571. The prices for these shares ranged from $14.95 to $15.13. Following this transaction, Rosenstein directly owns 4,797,091 shares of Asana.
The following day, July 23, Rosenstein sold an additional 729,228 shares at a weighted average price of $15.0801, for a total value of $10,996,789. These shares were sold in multiple transactions at prices ranging from $14.95 to $15.205 per share. Following this transaction, Rosenstein directly owns 4,067,863 shares of Asana.
The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on March 18, 2025.
In other recent news, Asana has made significant strides by joining the new AI Agents and Tools storefront in the AWS Marketplace. This integration allows AWS customers to discover and deploy Asana using their existing AWS accounts, potentially speeding up the development of AI agent and workflow solutions. Additionally, Asana founder and CEO Dustin Moskovitz purchased approximately 449,000 shares of the company’s stock, totaling about $6.4 million. This purchase precedes a leadership transition, with Dan Rogers set to become CEO later this month. Meanwhile, UBS has reiterated its Neutral rating on Asana, maintaining a price target of $18.00. The firm noted consistent messaging from Asana’s financial leadership, despite challenges such as lower annual contract value on a significant renewal and ongoing customer downgrade activity. These developments highlight Asana’s current strategic moves and market positioning.
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