Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Buys $3,285,000.00 in Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction dated Tuesday, July 8th. The stock was acquired at an average cost of $14.60 per share, with a total value of $3,285,000.00. Following the transaction, the chief executive officer owned 52,385,408 shares of the company's stock, valued at approximately $764,826,956.80. This trade represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Asana Price Performance

Shares of ASAN traded down $0.23 during trading hours on Wednesday, hitting $14.54. The stock had a trading volume of 3,237,872 shares, compared to its average volume of 3,415,840. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -14.54 and a beta of 1.13. The company's fifty day moving average is $15.65 and its two-hundred day moving average is $17.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47.

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, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The company's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. On average, analysts anticipate that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. lifted its holdings in Asana by 14.1% during the second quarter. Harbor Capital Advisors Inc. now owns 20,622 shares of the company's stock worth $278,000 after acquiring an additional 2,543 shares during the period. Rhumbline Advisers increased its stake in Asana by 3.1% in the 1st quarter. Rhumbline Advisers now owns 125,556 shares of the company's stock worth $1,829,000 after purchasing an additional 3,739 shares during the period. Strs Ohio bought a new position in Asana during the 1st quarter valued at approximately $195,000. Acadian Asset Management LLC lifted its stake in shares of Asana by 8,850.6% in 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 during the period. Finally, 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. Institutional investors own 26.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. DA Davidson lowered their target price on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Wall Street Zen upgraded Asana from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. JMP Securities reiterated a "market outperform" rating and set a $22.00 target price on shares of Asana in a research note on Wednesday, June 4th. Scotiabank raised their target price on Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, FBN Securities raised Asana to a "strong-buy" rating in a report on Wednesday, June 4th. Four investment 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 company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target 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.

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