Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Acquires 57,192 Shares of Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 57,192 shares of the company's stock in a transaction on Thursday, June 26th. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $740,636.40. Following the completion of the acquisition, the chief executive officer now directly owns 51,486,191 shares of the company's stock, valued at $666,746,173.45. This trade represents a 0.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Asana Price Performance

ASAN traded down $0.05 on Friday, reaching $13.28. The company had a trading volume of 4,842,153 shares, compared to its average volume of 2,972,335. The company has a fifty day moving average of $15.86 and a 200-day moving average of $17.92. The company has a market capitalization of $3.13 billion, a P/E ratio of -13.28 and a beta of 1.23. 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 one year low of $11.05 and a one year high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last posted 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. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The company had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. During the same quarter last year, the firm posted ($0.06) EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts anticipate that Asana, Inc. will post -1.09 earnings per share for the current year.

Hedge Funds Weigh In On Asana

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Asana by 3.1% during the 1st quarter. Rhumbline Advisers now owns 125,556 shares of the company's stock valued at $1,829,000 after purchasing an additional 3,739 shares in the last quarter. Strs Ohio bought a new position in shares of Asana during the 1st quarter valued at about $195,000. Acadian Asset Management LLC boosted its position in shares of Asana by 8,850.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock valued at $16,950,000 after purchasing an additional 1,151,369 shares in the last quarter. Bayforest Capital Ltd boosted its position in shares of Asana by 205.9% during the 1st quarter. Bayforest Capital Ltd now owns 20,614 shares of the company's stock valued at $300,000 after purchasing an additional 13,875 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Asana by 14.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company's stock valued at $3,770,000 after purchasing an additional 32,708 shares in the last quarter. Institutional investors own 26.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. KeyCorp restated a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Piper Sandler upped their price target 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. FBN Securities upgraded shares of Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. JMP Securities restated a "market outperform" rating and set a $22.00 price target on shares of Asana in a research report on Wednesday, June 4th. Finally, Morgan Stanley lowered their price target 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. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.

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