Asana, Inc. (NYSE:ASAN) CEO Buys $3,334,500.00 in Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz purchased 225,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $14.82 per share, with a total value of $3,334,500.00. Following the completion of the acquisition, the chief executive officer directly owned 53,730,999 shares in the company, valued at approximately $796,293,405.18. This trade represents a 0.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Asana Stock Up 0.6%

Shares of NYSE ASAN traded up $0.10 during mid-day trading on Wednesday, reaching $15.13. 2,350,537 shares of the company traded hands, compared to its average volume of 3,065,127. The stock has a market cap of $3.56 billion, a PE ratio of -15.13 and a beta of 1.13. 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's fifty day moving average is $15.29 and its two-hundred day moving average is $16.97. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

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

Analysts Set New Price Targets

ASAN has been the subject of a number of analyst reports. Wall Street Zen raised shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. UBS Group raised their target price on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Jefferies Financial Group increased their target price on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. FBN Securities upgraded shares of Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. Finally, Piper Sandler increased their price objective on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $15.97.

Hedge Funds Weigh In On Asana

Large investors have recently bought and sold shares of the stock. Vident Advisory LLC acquired a new stake in Asana during the fourth quarter worth about $460,000. Ameriprise Financial Inc. acquired a new stake in shares of Asana during the 4th quarter worth approximately $352,000. Brooklyn FI LLC bought a new stake in shares of Asana during the fourth quarter valued at approximately $8,138,000. Virtu Financial LLC acquired a new position in shares of Asana in the fourth quarter valued at $2,349,000. Finally, Meeder Asset Management Inc. raised its stake 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 purchasing an additional 25,564 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.