Dustin A. Moskovitz Buys 223,905 Shares of Asana, Inc. (NYSE:ASAN) Stock

Key Points

• Asana's Director Dustin A. Moskovitz purchased 223,905 shares of the company's stock for a total of $3,157,060.50 on August 7, increasing his holdings to approximately $789.3 million.
• The company's stock has recently traded down, currently at $13.55, and it faces analyst ratings with a consensus of "Hold" and a price target of $15.97.
• Asana reported $187.63 million in revenue for the last quarter, slightly exceeding analyst estimates, and had a negative return on equity of 87.78%.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz purchased 223,905 shares of Asana stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $14.10 per share, for a total transaction of $3,157,060.50. Following the transaction, the director directly owned 55,979,904 shares in the company, valued at approximately $789,316,646.40. The trade was a 0.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Asana Stock Up 4.6%

ASAN stock traded up $0.60 during trading on Wednesday, hitting $13.59. 812,842 shares of the company's stock traded hands, compared to its average volume of 3,433,113. The firm has a market capitalization of $3.20 billion, a P/E ratio of -13.54 and a beta of 1.14. The business has a fifty day simple moving average of $14.10 and a two-hundred day simple moving average of $16.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $187.63 million during the quarter, compared to the consensus estimate of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) earnings per share. Sell-side analysts anticipate that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vident Advisory LLC purchased a new position in Asana in the fourth quarter valued at $460,000. Ameriprise Financial Inc. acquired a new position in shares of Asana during the 4th quarter worth about $352,000. Brooklyn FI LLC acquired a new position in shares of Asana during the 4th quarter worth about $8,138,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Asana during the 1st quarter worth about $285,000. Finally, Sei Investments Co. acquired a new position in shares of Asana during the 4th quarter worth about $585,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

ASAN has been the topic of a number of research reports. UBS Group upped their price target on Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. raised their price target on Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Wednesday, June 4th. Scotiabank boosted their price target on Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 price target on shares of Asana in a research report on Wednesday, June 4th. Finally, JMP Securities restated a "market outperform" rating and issued a $22.00 price objective on shares of Asana in a research note 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.