Asana, Inc. (NYSE:ASAN) Director Buys $3,354,750.00 in Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz bought 225,000 shares of the company's stock in a transaction dated Monday, July 21st. The shares were acquired at an average cost of $14.91 per share, with a total value of $3,354,750.00. Following the acquisition, the director directly owned 53,955,999 shares of the company's stock, valued at approximately $804,483,945.09. This represents a 0.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Asana Trading Down 0.3%

NYSE ASAN traded down $0.05 on Friday, hitting $14.90. 2,434,356 shares of the company were exchanged, compared to its average volume of 3,413,914. The firm has a market capitalization of $3.51 billion, a P/E ratio of -14.90 and a beta of 1.13. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. The company's 50 day moving average price is $15.04 and its 200-day moving average price is $16.85.

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

Hedge Funds Weigh In On Asana

A number of hedge funds have recently modified their holdings of ASAN. Blue Trust Inc. boosted its stake in shares of Asana by 13.7% in the 2nd quarter. Blue Trust Inc. now owns 26,638 shares of the company's stock valued at $360,000 after purchasing an additional 3,216 shares in the last quarter. 111 Capital acquired a new stake in shares of Asana in the 2nd quarter valued at $186,000. GC Wealth Management RIA LLC acquired a new stake in shares of Asana in the 2nd quarter valued at $831,000. Catalyst Private Wealth LLC boosted its stake in Asana by 3.1% in the second quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company's stock worth $580,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Asana by 14.1% in the second quarter. Harbor Capital Advisors Inc. now owns 20,622 shares of the company's stock worth $278,000 after purchasing an additional 2,543 shares in the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on ASAN. Robert W. Baird increased their price objective on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Scotiabank increased 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. HSBC reiterated a "reduce" rating and set a $10.00 price target (down from $13.00) on shares of Asana in a research note on Wednesday, June 4th. Bank of America lowered their price objective on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Finally, Jefferies Financial Group raised 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 assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Asana presently has a consensus rating of "Hold" and a consensus 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.