Asana, Inc. (NYSE:ASAN) CEO Acquires $3,148,006.68 in Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 224,217 shares of the firm's stock in a transaction on Monday, July 7th. The shares were purchased at an average cost of $14.04 per share, with a total value of $3,148,006.68. Following the completion of the transaction, the chief executive officer owned 52,160,408 shares in the company, valued at $732,332,128.32. This represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Asana Trading Down 3.9%

Asana stock traded down $0.56 during trading hours on Friday, hitting $13.86. 2,925,565 shares of the stock traded hands, compared to its average volume of 3,026,035. 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 firm's 50 day moving average price is $15.54 and its 200-day moving average price is $17.26. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ASAN shares. FBN Securities upgraded Asana to a "strong-buy" rating in a report on Wednesday, June 4th. Piper Sandler boosted their target price on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Robert W. Baird boosted their target price on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Jefferies Financial Group boosted their target price on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $15.97.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ASAN. Banque Cantonale Vaudoise acquired a new position in Asana in the 1st quarter worth about $28,000. Quarry LP purchased a new position in shares of Asana in the fourth quarter valued at approximately $29,000. AlphaQuest LLC lifted its position in shares of 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. State of Tennessee Department of Treasury purchased a new position in shares of Asana in the fourth quarter valued at approximately $135,000. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Asana in the first quarter valued at approximately $146,000. 26.21% of the stock is owned by institutional investors and hedge funds.

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.