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

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.

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

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.

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