Dustin A. Moskovitz Buys 222,684 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz purchased 222,684 shares of Asana stock in a transaction dated Monday, July 14th. The shares were purchased at an average cost of $14.25 per share, for a total transaction of $3,173,247.00. Following the completion of the transaction, the chief executive officer owned 52,833,092 shares of the company's stock, valued at approximately $752,871,561. This represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Asana Stock Up 3.2%

NYSE:ASAN traded up $0.46 during trading hours on Friday, reaching $14.87. The company had a trading volume of 2,426,067 shares, compared to its average volume of 3,388,464. 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 firm has a market cap of $3.50 billion, a price-to-earnings ratio of -14.86 and a beta of 1.13. The business's 50-day simple moving average is $15.34 and its two-hundred day simple moving average is $17.04. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The firm had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. During the same period last year, the firm earned ($0.06) earnings per share. The business's quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts expect that Asana, Inc. will post -1.09 earnings per share for the current year.

Hedge Funds Weigh In On Asana

Hedge funds have recently bought and sold shares of the company. GC Wealth Management RIA LLC bought a new stake in Asana during the second quarter valued at approximately $831,000. Catalyst Private Wealth LLC increased its stake in shares of Asana by 3.1% in the second quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company's stock worth $580,000 after buying an additional 1,285 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Asana by 14.1% in the second quarter. Harbor Capital Advisors Inc. now owns 20,622 shares of the company's stock worth $278,000 after buying an additional 2,543 shares during the period. Rhumbline Advisers increased its stake in shares of Asana by 3.1% in the first quarter. Rhumbline Advisers now owns 125,556 shares of the company's stock worth $1,829,000 after buying an additional 3,739 shares during the period. Finally, Strs Ohio purchased a new position in shares of Asana in the first quarter worth $195,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ASAN shares. Royal Bank Of Canada restated an "underperform" rating and set a $10.00 price objective on shares of Asana in a research note on Wednesday, June 4th. Jefferies Financial Group boosted their price objective on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. Morgan Stanley cut their price objective on shares of Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. KeyCorp reissued a "sector weight" rating on shares of Asana in a report on Wednesday, June 4th. Finally, Robert W. Baird upped their price target on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Asana currently 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.