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

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

Asana Stock Down 3.9%

NYSE ASAN traded down $0.56 during trading on Friday, hitting $13.86. 2,925,565 shares of the stock traded hands, compared to its average volume of 3,026,035. The firm has a 50-day simple moving average of $15.54 and a 200-day simple moving average of $17.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47. 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 released its quarterly earnings results 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. The business had revenue of $187.63 million during the quarter, compared to analysts' expectations of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. Research analysts predict that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Investors Weigh In On Asana

Institutional investors have recently modified their holdings of the stock. Vident Advisory LLC bought a new stake in shares of Asana in the 4th quarter valued at approximately $460,000. Ameriprise Financial Inc. bought a new stake in shares of Asana during the 4th quarter worth approximately $352,000. Brooklyn FI LLC bought a new stake in shares of Asana during the 4th quarter worth approximately $8,138,000. Virtu Financial LLC bought a new stake in shares of Asana during the 4th quarter worth approximately $2,349,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Asana by 49.2% during the 4th quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company's stock worth $1,572,000 after acquiring an additional 25,564 shares during the last quarter. 26.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler increased their target price on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Morgan Stanley decreased their price objective on Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. Bank of America decreased their price objective on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Scotiabank raised their price objective on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Robert W. Baird raised their price objective on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $15.97.

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.