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

Key Points

• Dustin A. Moskovitz, the Director of Asana, Inc., purchased 225,000 shares of the company at an average price of $15.24, increasing his total ownership to nearly 54.9 million shares.
• Asana's stock price has declined by 4.6%, trading at $14.65, while its annual range fluctuates from $11.05 to $27.77.
• The company reported an earnings per share (EPS) of $0.05 for the last quarter, surpassing estimates, with revenue growth of 8.6% year-over-year.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average price of $15.24 per share, with a total value of $3,429,000.00. Following the completion of the transaction, the director directly owned 54,855,999 shares of the company's stock, valued at $836,005,424.76. This trade represents a 0.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Asana Stock Down 4.6%

NYSE:ASAN traded down $0.71 during mid-day trading on Thursday, hitting $14.65. The company had a trading volume of 3,498,644 shares, compared to its average volume of 3,277,876. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The business has a fifty day simple moving average of $14.84 and a 200-day simple moving average of $16.73. 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 issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million during 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%. Asana's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) earnings per share. As a group, equities analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. JMP Securities reiterated a "market outperform" rating and set a $22.00 price target on shares of Asana in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of 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 from $13.00) on shares of Asana in a research note on Wednesday, June 4th. Finally, Jefferies Financial Group increased their price objective 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. Four equities 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 issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $15.97.

Institutional Trading of Asana

Several institutional investors have recently added to or reduced their stakes in ASAN. Arrowstreet Capital Limited Partnership bought a new stake in shares of Asana in the 4th quarter valued at approximately $38,966,000. Acadian Asset Management LLC raised its stake in shares of Asana by 8,850.6% during the first quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock valued at $16,950,000 after purchasing an additional 1,151,369 shares in the last quarter. Two Sigma Investments LP boosted its stake in Asana by 288.1% during the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after purchasing an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Asana by 8.1% during the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares in the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of Asana by 700.1% in the first quarter. Woodline Partners LP now owns 688,713 shares of the company's stock valued at $10,035,000 after purchasing an additional 602,638 shares in the last quarter. 26.21% of the stock is 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.

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