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

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was acquired at an average cost of $13.96 per share, with a total value of $3,141,000.00. Following the transaction, the chief executive officer owned 53,058,092 shares in the company, valued at $740,690,964.32. The trade was a 0.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Asana Price Performance

Shares of NYSE:ASAN traded down $0.19 during trading on Monday, reaching $14.82. The stock had a trading volume of 4,542,855 shares, compared to its average volume of 3,056,243. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The business's 50-day moving average price is $15.29 and its 200 day moving average price is $16.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $3.49 billion, a PE ratio of -14.82 and a beta of 1.13.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The company had revenue of $187.63 million during 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%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. As a group, equities analysts predict that Asana, Inc. will post -1.09 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on ASAN shares. Piper Sandler increased their price target on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Jefferies Financial Group upped their price objective on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research note on Wednesday, June 4th. FBN Securities upgraded Asana to a "strong-buy" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Scotiabank raised their price objective on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $15.97.

Hedge Funds Weigh In On Asana

Several large investors have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new position in Asana during the first quarter worth about $28,000. Quarry LP purchased a new position in Asana in the 4th quarter worth approximately $29,000. AlphaQuest LLC boosted its stake in shares of Asana by 825.1% in the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after purchasing an additional 2,203 shares in the last quarter. State of Tennessee Department of Treasury bought a new stake in Asana during the 4th quarter valued at $135,000. Finally, 180 Wealth Advisors LLC bought a new position in Asana in the 1st quarter worth $146,000. Institutional investors own 26.21% of the company's stock.

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.