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

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

Asana Trading Up 2.3%

Shares of NYSE ASAN traded up $0.33 during trading hours on Thursday, hitting $14.42. The company's stock had a trading volume of 2,612,525 shares, compared to its average volume of 3,033,283. 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 cap of $3.39 billion, a price-to-earnings ratio of -14.42 and a beta of 1.13. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The business has a 50-day simple moving average of $15.39 and a 200-day simple moving average of $17.09.

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

Institutional Trading of Asana

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GC Wealth Management RIA LLC purchased a new stake in Asana in the second quarter worth about $831,000. Catalyst Private Wealth LLC lifted its holdings in shares of 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 purchasing an additional 1,285 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 2,543 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of 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 purchasing an additional 3,739 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Asana during the first quarter valued at approximately $195,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HSBC reissued a "reduce" rating and issued a $10.00 target price (down previously from $13.00) on shares of Asana in a research note on Wednesday, June 4th. FBN Securities raised Asana to a "strong-buy" rating in a research note on Wednesday, June 4th. KeyCorp reissued a "sector weight" rating on shares of Asana in a research note on Wednesday, June 4th. Robert W. Baird increased 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. Finally, Jefferies Financial Group increased their target price on Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.