Insider Buying: Asana, Inc. (NYSE:ASAN) Director Acquires 225,000 Shares of Stock

Key Points

• Dustin A. Moskovitz, Director at Asana, Inc., purchased 225,000 shares for $3.38 million at an average price of $15.04 per share, increasing his ownership to approximately 54.4 million shares.
• Asana's stock price is currently trading at $14.90, down 0.3% on Friday, with a 50-day moving average of $15.04 and a recent quarterly revenue increase of 8.6% year-over-year, totaling $187.63 million.
• Equity analysts have varying ratings on Asana, with a consensus rating of "Hold" and an average price target of $15.97, indicating cautious optimism in the company's future performance.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction on Wednesday, July 23rd. The stock was bought at an average cost of $15.04 per share, for a total transaction of $3,384,000.00. Following the transaction, the director owned 54,405,999 shares of the company's stock, valued at approximately $818,266,224.96. This trade represents a 0.42% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Asana Stock Up 1.2%

Shares of Asana stock traded up $0.19 during trading on Tuesday, hitting $15.22. The company's stock had a trading volume of 5,902,093 shares, compared to its average volume of 3,116,660. 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 fifty day simple moving average of $14.87 and a two-hundred day simple moving average of $16.74. The company has a market capitalization of $3.58 billion, a PE ratio of -15.22 and a beta of 1.13. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million during the quarter, compared to analyst estimates 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 period last year, the business earned ($0.06) EPS. Equities research analysts predict that Asana, Inc. will post -1.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Jefferies Financial Group lifted their price objective 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. UBS Group boosted their price target on shares of Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. HSBC reissued a "reduce" rating and issued a $10.00 price target (down previously from $13.00) on shares of Asana in a research report on Wednesday, June 4th. Scotiabank boosted their price target on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.97.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Voya Investment Management LLC boosted its holdings in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after acquiring an additional 937,726 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock worth $155,261,000 after buying an additional 475,100 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after buying an additional 438,057 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Asana in the fourth quarter worth approximately $38,966,000. Finally, First Trust Advisors LP boosted its holdings in shares of Asana by 17.6% in the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after buying an additional 261,298 shares during the last quarter. 26.21% of the stock is currently owned by 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.