Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Buys 30,563 Shares of Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 30,563 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $397,319.00. Following the completion of the purchase, the chief executive officer now owns 51,428,999 shares of the company's stock, valued at $668,576,987. This trade represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Asana Stock Down 0.3%

Shares of ASAN stock traded down $0.05 during mid-day trading on Friday, reaching $13.28. 4,842,153 shares of the company's stock traded hands, compared to its average volume of 2,972,335. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a market cap of $3.13 billion, a P/E ratio of -13.28 and a beta of 1.23. 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 company's 50-day moving average price is $15.86 and its 200-day moving average price is $17.92.

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

Analysts Set New Price Targets

Several research analysts recently commented on ASAN shares. HSBC reaffirmed a "reduce" rating and issued a $10.00 target price (down from $13.00) on shares of Asana in a research note on Wednesday, June 4th. JMP Securities reissued a "market outperform" rating and set a $22.00 price objective on shares of Asana in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Wednesday, June 4th. Piper Sandler boosted their price objective on shares of Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada reissued an "underperform" rating and set a $10.00 price objective on shares of Asana in a research report on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $15.97.

Institutional Trading of Asana

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings 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 buying an additional 3,739 shares in the last quarter. Strs Ohio bought a new position in Asana in the 1st quarter worth about $195,000. Acadian Asset Management LLC boosted its stake in Asana by 8,850.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock worth $16,950,000 after purchasing an additional 1,151,369 shares in the last quarter. Bayforest Capital Ltd boosted its stake in Asana by 205.9% in the 1st quarter. Bayforest Capital Ltd now owns 20,614 shares of the company's stock worth $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 stake in Asana by 14.5% in 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 worth $3,770,000 after purchasing an additional 32,708 shares in the last quarter. Institutional investors own 26.21% of the company's stock.

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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