Dustin A. Moskovitz Purchases 222,907 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 222,907 shares of the firm's stock in a transaction on Thursday, July 17th. The shares were bought at an average price of $14.36 per share, with a total value of $3,200,944.52. Following the completion of the purchase, the chief executive officer owned 53,505,999 shares in the company, valued at approximately $768,346,145.64. The trade was a 0.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Asana Stock Down 1.3%

Shares of ASAN stock traded down $0.19 on Monday, hitting $14.82. The stock had a trading volume of 4,542,855 shares, compared to its average volume of 3,056,286. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $15.29 and a 200 day moving average price of $16.97. The company has a market cap of $3.49 billion, a PE ratio of -14.82 and a beta of 1.13. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $187.63 million during 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%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. Research analysts anticipate that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Asana

A number of large investors have recently added to or reduced their stakes in ASAN. Quarry LP purchased a new stake in shares of Asana during the fourth quarter worth about $29,000. Banque Cantonale Vaudoise purchased a new stake in Asana in the first quarter valued at approximately $28,000. AlphaQuest LLC lifted its holdings in Asana by 825.1% in the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after acquiring an additional 2,203 shares during the period. State of Tennessee Department of Treasury acquired a new position in Asana in the fourth quarter valued at approximately $135,000. Finally, GAMMA Investing LLC lifted its holdings in Asana by 5,815.7% in the first quarter. GAMMA Investing LLC now owns 9,820 shares of the company's stock valued at $1,430,000 after acquiring an additional 9,654 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ASAN has been the topic of several recent research reports. JMP Securities reiterated a "market outperform" rating and issued a $22.00 price objective on shares of Asana in a research note on Wednesday, June 4th. HSBC reaffirmed a "reduce" rating and set a $10.00 price objective (down from $13.00) on shares of Asana in a report on Wednesday, June 4th. Scotiabank increased their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Jefferies Financial Group raised their target price on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada reissued an "underperform" rating and issued a $10.00 target price on shares of Asana in a report on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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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