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

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

Asana Price Performance

NYSE ASAN traded down $0.56 on Friday, reaching $13.86. 2,925,565 shares of the company's stock traded hands, compared to its average volume of 3,020,259. The stock has a market cap of $3.26 billion, a PE ratio of -13.86 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 stock has a 50-day simple moving average of $15.54 and a 200 day simple moving average of $17.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. UBS Group lifted their price target on shares of Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. FBN Securities upgraded Asana to a "strong-buy" rating in a research note on Wednesday, June 4th. KeyCorp reaffirmed a "sector weight" rating on shares of Asana in a report on Wednesday, June 4th. Finally, Scotiabank boosted their price objective on Asana from $12.00 to $16.50 and gave the company 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 given a hold rating, five have given a buy rating and one has given 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.

Institutional Trading of Asana

A number of institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new position in shares of Asana during the first quarter valued at about $28,000. Quarry LP purchased a new position in shares of Asana in the 4th quarter valued at approximately $29,000. AlphaQuest LLC boosted its position in shares of Asana by 825.1% during the first 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 shares of Asana during the fourth quarter valued at approximately $135,000. Finally, 180 Wealth Advisors LLC purchased a new stake in Asana in the first quarter worth $146,000. Hedge funds and other 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.