Insider Buying: Asana, Inc. (NYSE:ASAN) Director Buys 225,000 Shares of Stock

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

Asana Trading Down 0.3%

Shares of NYSE ASAN traded down $0.05 during trading hours on Friday, hitting $14.90. 2,437,872 shares of the company traded hands, compared to its average volume of 3,129,118. The company's 50 day moving average price is $14.98 and its 200 day moving average price is $16.78. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -14.90 and a beta of 1.13. 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, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The business's revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Asana, Inc. will post -1.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently made changes to their positions in ASAN. Voya Investment Management LLC raised its stake in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after purchasing an additional 937,726 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock worth $155,261,000 after acquiring an additional 475,100 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after acquiring an additional 438,057 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Asana in the fourth quarter worth approximately $38,966,000. Finally, First Trust Advisors LP lifted its position in Asana by 17.6% during the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock worth $35,350,000 after buying an additional 261,298 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Piper Sandler raised their price objective on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Wall Street Zen raised Asana from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. KeyCorp restated a "sector weight" rating on shares of Asana in a research note on Wednesday, June 4th. Finally, Morgan Stanley cut their price objective on Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.97.

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.