Dustin A. Moskovitz Buys 225,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was purchased at an average cost of $14.16 per share, with a total value of $3,186,000.00. Following the completion of the acquisition, the chief executive officer owned 52,610,408 shares of the company's stock, valued at $744,963,377.28. The trade was a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Asana Stock Up 3.2%

Shares of NYSE ASAN traded up $0.46 during mid-day trading on Friday, reaching $14.87. The company had a trading volume of 2,426,067 shares, compared to its average volume of 3,388,464. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $3.50 billion, a PE ratio of -14.86 and a beta of 1.13. The stock's 50 day moving average is $15.34 and its 200-day moving average is $17.04.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The business had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. Asana'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. As a group, equities analysts anticipate that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Asana

Hedge funds have recently bought and sold shares of the business. GC Wealth Management RIA LLC bought a new stake in Asana during the second quarter valued at about $831,000. Catalyst Private Wealth LLC boosted its holdings in Asana by 3.1% during the second quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company's stock valued at $580,000 after acquiring an additional 1,285 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Asana by 14.1% during the second quarter. Harbor Capital Advisors Inc. now owns 20,622 shares of the company's stock valued at $278,000 after acquiring an additional 2,543 shares during the period. Rhumbline Advisers boosted its holdings in Asana by 3.1% during the first quarter. Rhumbline Advisers now owns 125,556 shares of the company's stock valued at $1,829,000 after acquiring an additional 3,739 shares during the period. Finally, Strs Ohio bought a new stake in Asana during the first quarter valued at about $195,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on ASAN shares. UBS Group boosted their price objective on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Robert W. Baird lifted their target price on Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Piper Sandler lifted their target price on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Morgan Stanley decreased their target price on Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. Finally, Scotiabank lifted their target price on Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.