Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz Purchases 225,000 Shares

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were purchased at an average cost of $14.16 per share, for a total transaction of $3,186,000.00. Following the completion of the acquisition, the chief executive officer directly owned 52,610,408 shares of the company's stock, valued at $744,963,377.28. This represents a 0.43% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Asana Trading Up 2.8%

Shares of Asana stock traded up $0.38 during mid-day trading on Wednesday, hitting $14.08. 2,802,588 shares of the stock were exchanged, compared to its average volume of 3,034,938. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -14.08 and a beta of 1.13. The company has a 50-day simple moving average of $15.39 and a 200 day simple moving average of $17.09. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16.

Asana (NYSE:ASAN - Get Free Report) last announced 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 business had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The company's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. Research analysts forecast that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Trading of Asana

Several large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Asana during the fourth quarter worth approximately $38,966,000. Acadian Asset Management LLC grew its position in shares of Asana by 8,850.6% during the first quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock worth $16,950,000 after buying an additional 1,151,369 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Asana by 288.1% during the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after buying an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after buying an additional 937,726 shares in the last quarter. Finally, Woodline Partners LP grew its position in shares of Asana by 700.1% during the first quarter. Woodline Partners LP now owns 688,713 shares of the company's stock worth $10,035,000 after buying an additional 602,638 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. HSBC reaffirmed a "reduce" rating and set a $10.00 price objective (down from $13.00) on shares of Asana in a report on Wednesday, June 4th. Robert W. Baird increased their price objective on shares of Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Morgan Stanley decreased their price objective on shares of Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. UBS Group increased their target price on shares of Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Asana from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently 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.