Dustin A. Moskovitz Acquires 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 bought 225,000 shares of Asana stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $15.24 per share, with a total value of $3,429,000.00. Following the acquisition, the director owned 54,855,999 shares of the company's stock, valued at $836,005,424.76. The trade was a 0.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Asana Price Performance

Shares of NYSE ASAN traded up $0.46 during trading on Monday, hitting $14.47. The company had a trading volume of 844,127 shares, compared to its average volume of 3,412,447. The stock has a fifty day simple moving average of $14.71 and a two-hundred day simple moving average of $16.62. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -14.48 and a beta of 1.14. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on ASAN. UBS Group lifted their price objective on shares of Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. 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. Bank of America cut their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. Piper Sandler lifted their price objective on shares of Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, Jefferies Financial Group lifted 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. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $15.97.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently bought and sold shares of the business. 180 Wealth Advisors LLC boosted its position in Asana by 7.2% during the second quarter. 180 Wealth Advisors LLC now owns 10,769 shares of the company's stock worth $145,000 after acquiring an additional 722 shares during the last quarter. Vise Technologies Inc. boosted its position in Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after acquiring an additional 959 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Asana by 3.1% in the 1st quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock valued at $473,000 after purchasing an additional 974 shares during the last quarter. Catalyst Private Wealth LLC boosted its holdings in Asana by 3.1% in the 2nd quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company's stock valued at $580,000 after purchasing an additional 1,285 shares during the last quarter. Finally, Quarry LP acquired a new position in Asana in the 4th quarter valued at about $29,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.