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

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 purchased 225,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average cost of $15.04 per share, with a total value of $3,384,000.00. Following the completion of the transaction, the director owned 54,405,999 shares in the company, valued at $818,266,224.96. This trade represents a 0.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Asana Trading Down 0.3%

Shares of NYSE:ASAN traded down $0.05 during trading hours on Friday, reaching $14.90. The stock had a trading volume of 2,437,872 shares, compared to its average volume of 3,249,753. The firm's 50 day moving average is $15.04 and its 200-day moving average is $16.85. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. During the same quarter last year, the business posted ($0.06) EPS. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Institutional Trading of Asana

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Asana by 13.7% during the second quarter. Blue Trust Inc. now owns 26,638 shares of the company's stock worth $360,000 after purchasing an additional 3,216 shares during the last quarter. 111 Capital acquired a new stake in shares of Asana in the second quarter valued at about $186,000. GC Wealth Management RIA LLC acquired a new stake in Asana during the 2nd quarter valued at approximately $831,000. Catalyst Private Wealth LLC grew its stake in Asana by 3.1% during the 2nd quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company's stock valued at $580,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Asana by 14.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,622 shares of the company's stock valued at $278,000 after purchasing an additional 2,543 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ASAN shares. JMP Securities reissued a "market outperform" rating and issued a $22.00 target price on shares of Asana in a research report on Wednesday, June 4th. Robert W. Baird boosted 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. Piper Sandler lifted their target price on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Wall Street Zen raised shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, KeyCorp restated a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.