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Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz Purchases 224,217 Shares

Asana logo with Computer and Technology background

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz acquired 224,217 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average cost of $14.04 per share, with a total value of $3,148,006.68. Following the completion of the acquisition, the chief executive officer owned 52,160,408 shares in the company, valued at $732,332,128.32. This trade represents a 0.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Asana Trading Down 1.6%

NYSE:ASAN traded down $0.23 during trading hours on Wednesday, hitting $14.54. The company had a trading volume of 3,237,872 shares, compared to its average volume of 3,415,840. 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 50-day moving average price of $15.65 and a 200 day moving average price of $17.38. The company has a market capitalization of $3.42 billion, a PE ratio of -14.54 and a beta of 1.13. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on ASAN shares. Wall Street Zen raised Asana from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Piper Sandler increased their target price on shares of Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Morgan Stanley cut their price target on shares of Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Robert W. Baird upped their price target on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada restated an "underperform" rating and issued a $10.00 target price on shares of Asana 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $15.97.

Read Our Latest Analysis on Asana

Institutional Investors Weigh In On Asana

Institutional investors and hedge funds have recently made changes to their positions in the company. Vident Advisory LLC purchased a new stake in shares of Asana during the fourth quarter valued at $460,000. Ameriprise Financial Inc. bought a new position in Asana during the 4th quarter valued at about $352,000. Brooklyn FI LLC purchased a new stake in shares of Asana during the 4th quarter valued at about $8,138,000. Virtu Financial LLC bought a new stake in shares of Asana in the fourth quarter worth approximately $2,349,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Asana by 49.2% during the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock valued at $1,572,000 after purchasing an additional 25,564 shares during the last quarter. Institutional investors own 26.21% of the company's stock.

About Asana

(Get Free Report)

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.

Read More

Insider Buying and Selling by Quarter for Asana (NYSE:ASAN)

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.

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