Asana, Inc. (NYSE:ASAN) CEO Purchases $3,055,500.00 in Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were bought at an average price of $13.58 per share, for a total transaction of $3,055,500.00. Following the completion of the transaction, the chief executive officer directly owned 51,711,191 shares of the company's stock, valued at $702,237,973.78. This represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Asana Price Performance

Shares of Asana stock traded up $0.46 during mid-day trading on Friday, reaching $13.97. 2,421,440 shares of the stock traded hands, compared to its average volume of 2,997,827. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The stock has a market capitalization of $3.29 billion, a PE ratio of -13.97 and a beta of 1.13. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $15.71 and a 200 day moving average of $17.48.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, analysts predict that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Trading of Asana

Several hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new position in shares of Asana during the 1st quarter worth about $28,000. Quarry LP acquired a new position in Asana in the fourth quarter valued at $29,000. AlphaQuest LLC boosted its stake in Asana by 825.1% in the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after acquiring an additional 2,203 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Asana during the fourth quarter worth about $82,000. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Asana during the fourth quarter worth about $135,000. Institutional investors and hedge funds own 26.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ASAN. Morgan Stanley cut their target price on Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. Jefferies Financial Group increased their price target on Asana from $15.00 to $17.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. UBS Group boosted their target price on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Scotiabank lifted their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, KeyCorp reissued a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.97.

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.