Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz Buys 225,000 Shares

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $14.82 per share, for a total transaction of $3,334,500.00. Following the completion of the transaction, the chief executive officer owned 53,730,999 shares of the company’s stock, valued at $796,293,405.18. This trade represents a 0.42% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asana Price Performance

NYSE ASAN opened at $14.82 on Tuesday. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. 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 stock has a market capitalization of $3.49 billion, a PE ratio of -14.82 and a beta of 1.13. The stock has a 50-day simple moving average of $15.29 and a 200 day simple moving average of $16.97.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The business 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%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. Research analysts anticipate that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently added to or reduced their stakes in ASAN. Raymond James Financial Inc. purchased a new position in shares of Asana during the 4th quarter valued at about $1,352,000. Intech Investment Management LLC boosted its stake in shares of Asana by 24.0% in the 4th quarter. Intech Investment Management LLC now owns 48,729 shares of the company’s stock worth $988,000 after buying an additional 9,426 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Asana in the 4th quarter worth $1,310,000. Virtu Financial LLC purchased a new stake in Asana in the 4th quarter worth $2,349,000. Finally, Sei Investments Co. purchased a new stake in Asana in the 4th quarter worth $585,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ASAN. Scotiabank lifted their target price on shares of Asana from $12.00 to $16.50 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Asana from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 4th. Morgan Stanley cut their target price on shares of Asana from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, June 4th. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Wednesday, June 4th. Finally, HSBC reaffirmed a “reduce” rating and issued a $10.00 target price (down from $13.00) on shares of Asana in a research note on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.