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

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 stock in a transaction dated Monday, August 4th. The shares were purchased at an average cost of $14.38 per share, for a total transaction of $3,235,500.00. Following the transaction, the director owned 55,530,999 shares in the company, valued at approximately $798,535,765.62. The trade was a 0.41% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Asana Stock Down 1.6%

ASAN stock traded down $0.23 during mid-day trading on Tuesday, reaching $14.13. The company had a trading volume of 2,931,133 shares, compared to its average volume of 3,421,472. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -14.13 and a beta of 1.14. The firm has a fifty day simple moving average of $14.64 and a 200 day simple moving average of $16.59. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. Asana's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. Analysts forecast that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ASAN shares. HSBC reissued a "reduce" rating and issued a $10.00 price objective (down previously from $13.00) on shares of Asana in a report on Wednesday, June 4th. Bank of America dropped their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. Scotiabank increased their price target on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. UBS Group increased their price target on Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Jefferies Financial Group increased their price target on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a report on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $15.97.

Institutional Investors Weigh In On Asana

Hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of Asana during the 4th quarter worth about $29,000. Banque Cantonale Vaudoise acquired a new stake in Asana during the first quarter worth approximately $28,000. Bogart Wealth LLC acquired a new stake in Asana during the second 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 valued at $36,000 after buying an additional 2,203 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in Asana in the fourth quarter valued at $135,000. Institutional investors and hedge funds own 26.21% of the company's stock.

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.

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