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

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average cost of $14.82 per share, for a total transaction of $3,334,500.00. Following the acquisition, the chief executive officer owned 53,730,999 shares of the company's stock, valued at approximately $796,293,405.18. The trade was a 0.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Asana Price Performance

Shares of ASAN stock traded down $0.19 during midday trading on Monday, reaching $14.82. 4,542,855 shares of the company traded hands, compared to its average volume of 3,056,286. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The firm has a market cap of $3.49 billion, a PE ratio of -14.82 and a beta of 1.13. The firm's 50 day simple moving average is $15.29 and its two-hundred day simple moving average is $16.97.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $185.40 million. During the same period in the previous year, the firm posted ($0.06) EPS. The company's quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vise Technologies Inc. lifted its stake in shares of Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after purchasing an additional 959 shares during the period. SG Americas Securities LLC lifted its stake in shares of Asana by 3.1% during the 1st quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock worth $473,000 after purchasing an additional 974 shares during the period. Catalyst Private Wealth LLC lifted its stake in shares of Asana by 3.1% during the 2nd quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company's stock worth $580,000 after purchasing an additional 1,285 shares during the period. Quarry LP purchased a new stake in shares of Asana during the 4th quarter valued at $29,000. Finally, Retirement Planning Co of New England Inc. grew its stake in shares of Asana by 12.7% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 16,512 shares of the company's stock valued at $241,000 after buying an additional 1,855 shares during the period. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ASAN has been the topic of a number of research reports. Scotiabank raised 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. JPMorgan Chase & Co. raised their price target on Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Wednesday, June 4th. Wall Street Zen raised Asana from a "hold" rating to a "buy" rating in a report on Friday, June 6th. HSBC reaffirmed 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. Finally, Piper Sandler lifted their price objective on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Four research 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 company's stock. Based on data from MarketBeat, Asana 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.

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