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

Asana, Inc. (NYSE:ASAN) Director Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was bought at an average price of $14.38 per share, with a total value of $3,235,500.00. Following the completion of the acquisition, the director owned 55,530,999 shares of the company’s stock, valued at $798,535,765.62. This trade represents a 0.41% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asana Price Performance

ASAN opened at $14.66 on Thursday. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -14.66 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. The company has a fifty day simple moving average of $14.50 and a 200 day simple moving average of $16.56.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $187.63 million during the quarter, compared to analysts’ expectations of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) EPS. Equities research analysts expect that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Analyst Ratings Changes

ASAN has been the topic of a number of research analyst reports. FBN Securities upgraded shares of Asana to a “strong-buy” rating in a report on Wednesday, June 4th. Piper Sandler lifted 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. UBS Group boosted their price target on Asana from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Royal Bank Of Canada restated an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Wednesday, June 4th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Asana in a research note on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Asana has a consensus rating of “Hold” and a consensus price target of $15.97.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently bought and sold shares of the business. Vident Advisory LLC acquired a new position in shares of Asana in the 4th quarter valued at approximately $460,000. Ameriprise Financial Inc. acquired a new stake in shares of Asana during the fourth quarter worth approximately $352,000. Brooklyn FI LLC bought a new stake in shares of Asana in the fourth quarter worth $8,138,000. Sei Investments Co. acquired a new stake in Asana in the fourth quarter valued at $585,000. Finally, Norges Bank bought a new position in Asana during the 4th quarter valued at $4,617,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.