Asana, Inc. (NYSE:ASAN) Director Buys $3,235,500.00 in Stock

Key Points

• Dustin A. Moskovitz, Director of Asana, purchased 225,000 shares of the company's stock at an average price of $14.38 per share, totaling approximately $3.24 million.
• Asana's stock is currently trading at $14.13, down 1.6%, with a market capitalization of $3.33 billion and a recent quarterly revenue increase of 8.6% year-over-year.
• Analysts have mixed ratings for Asana, with price targets ranging from $10.00 to $21.00, reflecting a general rating of "Hold" from investment analysts.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz purchased 225,000 shares of the firm's stock in a transaction on Monday, August 4th. The stock was acquired at an average cost of $14.38 per share, for a total transaction of $3,235,500.00. Following the completion of the purchase, the director owned 55,530,999 shares in the company, valued at $798,535,765.62. The trade was a 0.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Asana Stock Down 4.1%

Shares of NYSE:ASAN traded down $0.58 during mid-day trading on Friday, hitting $13.55. 4,189,695 shares of the company traded hands, compared to its average volume of 3,513,658. The firm has a market cap of $3.19 billion, a P/E ratio of -13.55 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The firm's 50 day simple moving average is $14.33 and its 200 day simple moving average is $16.47.

Asana (NYSE:ASAN - Get Free Report) last announced its earnings results 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 return on equity of 87.78% and a negative net margin of 31.38%. The business had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. During the same period last year, the business posted ($0.06) EPS. The company's revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that Asana, Inc. will post -1.09 EPS for the current year.

Wall Street Analyst Weigh In

ASAN has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. UBS Group lifted their price objective on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Jefferies Financial Group lifted their price objective on Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. KeyCorp reaffirmed a "sector weight" rating on shares of Asana in a research note on Wednesday, June 4th. Finally, Robert W. Baird lifted their price objective on Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Asana presently has an average rating of "Hold" and an average target price of $15.97.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Asana in the 4th quarter worth approximately $29,000. Banque Cantonale Vaudoise acquired a new position in shares of Asana in the 1st quarter worth approximately $28,000. Bogart Wealth LLC acquired a new position in shares of Asana in the 2nd quarter worth approximately $27,000. AlphaQuest LLC grew its position in shares of Asana by 825.1% in the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after acquiring an additional 2,203 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Asana in the 4th quarter worth approximately $135,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.