Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Acquires 222,684 Shares of Stock

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

Asana Stock Performance

Shares of Asana stock traded up $0.33 on Thursday, hitting $14.42. 2,612,317 shares of the company's stock were exchanged, compared to its average volume of 3,033,260. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a 50-day simple moving average of $15.39 and a 200-day simple moving average of $17.09. 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 stock has a market capitalization of $3.39 billion, a PE ratio of -14.42 and a beta of 1.13.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vident Advisory LLC bought a new position in shares of Asana in the fourth quarter worth approximately $460,000. Ameriprise Financial Inc. bought a new position in Asana in the 4th quarter worth $352,000. Brooklyn FI LLC purchased a new stake in Asana in the 4th quarter worth $8,138,000. Virtu Financial LLC bought a new stake in Asana during the fourth quarter valued at about $2,349,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Asana by 49.2% in the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock valued at $1,572,000 after acquiring an additional 25,564 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Piper Sandler upped their price target on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Scotiabank lifted their price objective on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Morgan Stanley lowered their target price on shares of Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. Finally, Bank of America reduced their price target on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.