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

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was purchased at an average cost of $14.60 per share, with a total value of $3,285,000.00. Following the completion of the purchase, the chief executive officer directly owned 52,385,408 shares of the company's stock, valued at $764,826,956.80. This represents a 0.43% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Asana Trading Down 3.9%

Asana stock traded down $0.56 during trading hours on Friday, hitting $13.86. The stock had a trading volume of 2,925,565 shares, compared to its average volume of 3,020,259. The business's 50 day simple moving average is $15.54 and its 200-day simple moving average is $17.26. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -13.86 and a beta of 1.13. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data 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 net margin of 31.38% and a negative return on equity of 87.78%. The business had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. During the same quarter last year, the business earned ($0.06) EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ASAN shares. Jefferies Financial Group boosted their target price on shares of Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research report on Wednesday, June 4th. KeyCorp reissued a "sector weight" rating on shares of Asana in a 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 issued a $22.00 price target on shares of Asana in a research report on Wednesday, June 4th. Finally, Robert W. Baird lifted their price objective on shares of Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.97.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new stake in Asana during the fourth quarter worth approximately $38,966,000. Acadian Asset Management LLC increased its holdings in shares of Asana by 8,850.6% during the first quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock valued at $16,950,000 after acquiring an additional 1,151,369 shares in the last quarter. Two Sigma Investments LP raised its holdings in Asana by 288.1% during the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after buying an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC lifted its position in Asana by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after acquiring an additional 937,726 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in Asana by 700.1% during the 1st quarter. Woodline Partners LP now owns 688,713 shares of the company's stock valued at $10,035,000 after purchasing an additional 602,638 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

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.