Asana, Inc. (NYSE:ASAN) Director Acquires $3,159,000.00 in Stock

Key Points

• Asana, Inc. Director Dustin A. Moskovitz purchased 225,000 shares of stock at an average price of $14.04, totaling approximately $3.16 million, increasing his ownership to over 55 million shares.
• The company's recent earnings report showed a 8.6% year-over-year revenue growth and earnings per share of $0.05, surpassing analyst expectations.
• Several analysts recently adjusted their ratings on Asana, with target prices ranging from $10.00 to $16.50, reflecting mixed sentiments about the stock's performance potential.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $14.04 per share, with a total value of $3,159,000.00. Following the transaction, the director directly owned 55,305,999 shares in the company, valued at $776,496,225.96. This trade represents a 0.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Asana Trading Down 4.1%

Shares of Asana stock traded down $0.58 on Friday, reaching $13.55. 4,189,695 shares of the company were exchanged, compared to its average volume of 3,513,658. The stock has a fifty day moving average price of $14.33 and a 200-day moving average price of $16.47. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -13.55 and a beta of 1.14. 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, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The company had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. Asana had a negative return on equity of 87.78% and a negative net margin of 31.38%. Asana's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) earnings per share. On average, analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Wall Street Analyst Weigh In

ASAN has been the subject of a number of analyst reports. Royal Bank Of Canada reiterated an "underperform" rating and set a $10.00 price target on shares of Asana in a research report on Wednesday, June 4th. Wall Street Zen lowered Asana from a "buy" rating to a "hold" rating in a research report on Saturday. HSBC reiterated a "reduce" rating and set a $10.00 price target (down previously from $13.00) on shares of Asana in a research report on Wednesday, June 4th. Scotiabank boosted their price target on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Robert W. Baird boosted 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, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $15.97.

Institutional Investors Weigh In On Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. Bogart Wealth LLC acquired a new stake in shares of Asana during the second quarter worth $27,000. Banque Cantonale Vaudoise acquired a new stake in shares of Asana during the first quarter worth $28,000. Quarry LP acquired a new stake in shares of Asana during the fourth quarter worth $29,000. AlphaQuest LLC raised its position in Asana by 825.1% during the first quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after buying an additional 2,203 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in Asana by 155.6% during the second quarter. SBI Securities Co. Ltd. now owns 8,132 shares of the company's stock valued at $110,000 after buying an additional 4,950 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

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.