Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Acquires 222,907 Shares of Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz purchased 222,907 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was acquired at an average cost of $14.36 per share, for a total transaction of $3,200,944.52. Following the completion of the purchase, the chief executive officer owned 53,505,999 shares of the company's stock, valued at approximately $768,346,145.64. This represents a 0.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Asana Trading Down 1.2%

Shares of ASAN traded down $0.18 during trading on Thursday, reaching $14.95. 3,078,152 shares of the company traded hands, compared to its average volume of 3,316,393. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The stock has a market cap of $3.52 billion, a PE ratio of -14.95 and a beta of 1.13. The stock has a 50-day simple moving average of $15.04 and a 200-day simple moving average of $16.85. 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 announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The business had revenue of $187.63 million during the quarter, compared to analysts' expectations of $185.40 million. During the same period last year, the business earned ($0.06) earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts anticipate that Asana, Inc. will post -1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ASAN shares. HSBC reissued a "reduce" rating and issued a $10.00 price target (down from $13.00) on shares of Asana in a research note on Wednesday, June 4th. Jefferies Financial Group raised their price objective on shares of Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. Morgan Stanley cut their price objective on shares of Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. Robert W. Baird raised their price objective on shares of Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, Piper Sandler raised their price objective on shares of Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Asana currently has an average rating of "Hold" and an average price target of $15.97.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently made changes to their positions in ASAN. Banque Cantonale Vaudoise acquired a new position in shares of Asana in the first quarter valued at approximately $28,000. Quarry LP acquired a new position in shares of Asana in the fourth quarter valued at approximately $29,000. AlphaQuest LLC grew its holdings in shares of 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 purchasing an additional 2,203 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of Asana in the fourth quarter valued at approximately $135,000. Finally, 180 Wealth Advisors LLC acquired a new position in shares of Asana in the first quarter valued at approximately $146,000. 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.