Asana, Inc. (NYSE:ASAN) Director Dustin A. Moskovitz Purchases 225,000 Shares

Key Points

• Asana, Inc. Director Dustin A. Moskovitz purchased 225,000 shares of the company’s stock for approximately $3.26 million, increasing his total ownership to about 55.76 million shares.
• The company reported earnings per share (EPS) of $0.05 for the last quarter, surpassing analysts' expectations of $0.02, while its revenue grew 8.6% year-over-year to $187.63 million.
• Asana's stock has experienced significant volatility, with a one-year low of $11.05 and a high of $27.77, currently trading at around $13.55.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $14.48 per share, for a total transaction of $3,258,000.00. Following the purchase, the director directly owned 55,755,999 shares of the company's stock, valued at approximately $807,346,865.52. This represents a 0.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Asana Trading Up 4.6%

Asana stock traded up $0.60 during mid-day trading on Wednesday, hitting $13.59. The company's stock had a trading volume of 812,842 shares, compared to its average volume of 3,433,113. 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 market cap of $3.20 billion, a price-to-earnings ratio of -13.54 and a beta of 1.14. The business has a 50 day moving average price of $14.10 and a 200-day moving average price of $16.35. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 firm 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 posted ($0.06) earnings per share. The company's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts forecast that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. Quarry LP purchased a new position in shares of Asana in the 4th quarter worth $29,000. Banque Cantonale Vaudoise bought a new stake in shares of Asana in the 1st quarter worth about $28,000. Bogart Wealth LLC bought a new stake in shares of Asana in the 2nd quarter worth about $27,000. AlphaQuest LLC lifted its holdings in Asana by 825.1% during the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after buying an additional 2,203 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Asana during the 4th quarter valued at about $135,000. Institutional investors own 26.21% of the company's stock.

Wall Street Analysts Forecast Growth

ASAN has been the topic of several recent research reports. Robert W. Baird lifted their price target on Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. FBN Securities upgraded shares of Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. KeyCorp reiterated a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Wall Street Zen lowered Asana from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Piper Sandler increased their price target on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $15.97.

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.