Dustin A. Moskovitz Acquires 225,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction dated Tuesday, July 8th. The shares were purchased at an average price of $14.60 per share, for a total transaction of $3,285,000.00. Following the completion of the transaction, the chief executive officer directly owned 52,385,408 shares in the company, valued at approximately $764,826,956.80. The trade was a 0.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Asana Price Performance

ASAN traded down $0.20 on Thursday, hitting $14.38. 806,143 shares of the company's stock traded hands, compared to its average volume of 3,001,055. The company's 50 day simple moving average is $15.62 and its 200-day simple moving average is $17.36. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -14.46 and a beta of 1.13. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. 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 (NYSE:ASAN - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $187.63 million for the quarter, compared to the consensus estimate of $185.40 million. During the same quarter last year, the company earned ($0.06) EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts anticipate that Asana, Inc. will post -1.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ASAN shares. UBS Group raised their price target on Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Morgan Stanley reduced their price target on Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 4th. Piper Sandler raised their price target on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Jefferies Financial Group raised their price target on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. Finally, KeyCorp restated a "sector weight" rating on shares of Asana in a research report on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.97.

Hedge Funds Weigh In On Asana

Large investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new position in Asana during the 1st quarter valued at $28,000. Quarry LP bought a new position in shares of Asana in the 4th quarter worth $29,000. AlphaQuest LLC increased its position in Asana by 825.1% during the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after buying an additional 2,203 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in Asana during the 4th quarter valued at about $135,000. Finally, 180 Wealth Advisors LLC acquired a new position in shares of Asana in the first quarter valued at about $146,000. 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.