Insider Buying: Asana (NYSE:ASAN) Director Purchases 225,000 Shares of Stock

Key Points

• Dustin A. Moskovitz, a director of Asana, Inc., has acquired 225,000 shares of the company's stock at an average price of $13.77 per share, totaling approximately $3.1 million.
• Asana's stock saw a slight increase of 0.6%, trading at $13.86, with a market capitalization of $3.26 billion.
• Recent analyst ratings for Asana show a consensus rating of "Hold" and a target price averaging $15.97, with varying recommendations from different financial institutions.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $13.77 per share, for a total transaction of $3,098,250.00. Following the completion of the transaction, the director directly owned 56,879,765 shares of the company's stock, valued at approximately $783,234,364.05. The trade was a 0.40% 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 hyperlink.

Asana Stock Performance

ASAN stock traded down $0.1570 during mid-day trading on Wednesday, reaching $13.6430. 115,794 shares of the stock traded hands, compared to its average volume of 3,425,132. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $14.01 and a two-hundred day moving average of $16.09. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The firm has a market capitalization of $3.21 billion, a PE ratio of -13.67 and a beta of 1.14.

Asana (NYSE:ASAN - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) 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 analysts' expectations of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. Asana's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Asana has set its FY 2026 guidance at 0.220-0.220 EPS. Q2 2026 guidance at 0.040-0.050 EPS. As a group, equities analysts predict that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vident Advisory LLC bought a new stake in shares of Asana in the fourth quarter valued at approximately $460,000. Ameriprise Financial Inc. bought a new stake in shares of Asana in the fourth quarter valued at approximately $352,000. Brooklyn FI LLC bought a new stake in shares of Asana in the fourth quarter valued at approximately $8,138,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Asana in the first quarter valued at approximately $285,000. Finally, Allianz Asset Management GmbH raised its position in shares of Asana by 187.6% in the first quarter. Allianz Asset Management GmbH now owns 43,290 shares of the company's stock valued at $638,000 after purchasing an additional 28,239 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ASAN. Robert W. Baird lifted their target price on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Jefferies Financial Group boosted their price target on shares of Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. FBN Securities raised shares of Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. JMP Securities reissued a "market outperform" rating and set a $22.00 price target on shares of Asana in a research report on Wednesday, June 4th. Finally, Wall Street Zen cut shares of Asana from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.97.

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.