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

Key Points

• Dustin A. Moskovitz, the director of Asana, Inc., purchased 225,000 shares at an average price of $12.93, totaling approximately $2.91 million, boosting his ownership to 56.43 million shares.
• Asana's stock experienced a 1.6% increase in trading, reaching $13.00, amidst a trading volume that surpassed its average.
• Despite revenue growth of 8.6% year-over-year, Asana reported a negative net margin of 31.38% and a forecast of -1.09 EPS for the current fiscal year.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz bought 225,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price of $12.93 per share, with a total value of $2,909,250.00. Following the transaction, the director directly owned 56,429,904 shares in the company, valued at $729,638,658.72. The trade was a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Asana Stock Performance

Asana stock traded up $0.08 on Friday, reaching $13.86. 2,706,943 shares of the stock were exchanged, compared to its average volume of 3,862,453. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.26 billion, a PE ratio of -13.86 and a beta of 1.14. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a fifty day moving average price of $14.03 and a two-hundred day moving average price of $16.19.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $185.40 million. During the same period last year, the business posted ($0.06) earnings per share. The firm's quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that Asana, Inc. will post -1.09 EPS for the current year.

Hedge Funds Weigh In On Asana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vident Advisory LLC bought a new position in Asana during the fourth quarter worth $460,000. Ameriprise Financial Inc. bought a new position in shares of Asana in the 4th quarter worth about $352,000. Brooklyn FI LLC purchased a new stake in shares of Asana during the 4th quarter valued at about $8,138,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Asana during the 1st quarter worth approximately $285,000. Finally, Allianz Asset Management GmbH raised its position in shares of Asana by 187.6% during the first quarter. Allianz Asset Management GmbH now owns 43,290 shares of the company's stock valued at $638,000 after buying an additional 28,239 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on ASAN shares. JPMorgan Chase & Co. increased their target price on Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Wednesday, June 4th. Robert W. Baird upped 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. Wall Street Zen downgraded Asana from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group raised their target price on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Bank of America lowered their price target on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $15.97.

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.