Asana (NYSE:ASAN) Director Dustin A. Moskovitz Acquires 224,235 Shares

Key Points

• Dustin Moskovitz, a director at Asana, acquired 224,235 shares at an average price of $13.98 each, totaling around $3.13 million, increasing his total ownership to over 57 million shares.
• Asana's stock price fell 2.3% to $13.7950, with a market capitalization of $3.25 billion and a negative earnings per share (EPS) forecast of -1.09 for the current fiscal year.
• Research firms have varied price targets for Asana; Scotiabank raised its target to $16.50 while Morgan Stanley reduced it to $13.00, reflecting differing views on the company's performance and outlook.

Asana, Inc. (NYSE:ASAN - Get Free Report) Director Dustin A. Moskovitz purchased 224,235 shares of the business's stock in a transaction on Friday, August 15th. The shares were bought at an average price of $13.98 per share, for a total transaction of $3,134,805.30. Following the acquisition, the director owned 57,104,000 shares in the company, valued at $798,313,920. This trade represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Asana Stock Up 5.7%

Shares of ASAN traded up $0.7750 during midday trading on Friday, hitting $14.4750. The company had a trading volume of 4,355,451 shares, compared to its average volume of 3,527,909. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The firm has a market capitalization of $3.41 billion, a P/E ratio of -14.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.47 and a current ratio of 1.47. The company's 50-day simple moving average is $14.03 and its 200-day simple moving average is $15.93.

Asana (NYSE:ASAN - Get Free Report) last issued its 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. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The firm had revenue of $187.63 million for the quarter, compared to analysts' expectations of $185.40 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. Asana has set its FY 2026 guidance at 0.220-0.220 EPS. Q2 2026 guidance at 0.040-0.050 EPS. As a group, sell-side analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Hedge Funds Weigh In On Asana

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in Asana by 104.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company's stock valued at $56,173,000 after buying an additional 2,126,683 shares during the period. Acadian Asset Management LLC increased its stake 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 worth $16,950,000 after acquiring an additional 1,151,369 shares during the period. Marshall Wace LLP increased its stake in shares of Asana by 594.9% during the second quarter. Marshall Wace LLP now owns 1,285,583 shares of the company's stock worth $17,355,000 after acquiring an additional 1,100,575 shares during the period. 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 purchasing an additional 1,043,047 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ASAN. HSBC restated a "reduce" rating and issued a $10.00 price target (down from $13.00) on shares of Asana in a research note on Wednesday, June 4th. Robert W. Baird increased their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Wednesday, June 4th. Piper Sandler upped their target price on shares of Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada reiterated an "underperform" rating and set a $10.00 price target on shares of Asana in a research note on Wednesday, June 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, Asana currently has a consensus rating of "Hold" and a consensus 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.