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

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz purchased 224,217 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was bought at an average cost of $14.04 per share, with a total value of $3,148,006.68. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Asana Stock Performance

Shares of NYSE:ASAN traded down $0.20 during trading on Thursday, reaching $14.38. The company had a trading volume of 806,143 shares, compared to its average volume of 3,001,055. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -14.46 and a beta of 1.13. 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's fifty day moving average price is $15.62 and its 200 day moving average price is $17.36. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly 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. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The firm had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts predict that Asana, Inc. will post -1.09 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Royal Bank Of Canada reaffirmed an "underperform" rating and issued a $10.00 price target on shares of Asana in a research note on Wednesday, June 4th. FBN Securities raised Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. Scotiabank raised their price objective on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Piper Sandler raised their price objective on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Finally, JMP Securities reissued a "market outperform" rating and set a $22.00 price objective on shares of Asana in a research report 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.97.

Institutional Trading of Asana

Institutional investors have recently modified their holdings of the business. Vident Advisory LLC purchased a new stake in shares of Asana in the fourth quarter valued at approximately $460,000. Ameriprise Financial Inc. purchased a new stake in Asana during the fourth quarter worth $352,000. Brooklyn FI LLC purchased a new stake in Asana during the fourth quarter worth $8,138,000. Virtu Financial LLC purchased a new stake in Asana during the fourth quarter worth $2,349,000. Finally, Meeder Asset Management Inc. boosted its position in Asana by 49.2% during the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock worth $1,572,000 after purchasing an additional 25,564 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

About Asana

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.