Asana, Inc. (NYSE:ASAN) CEO Buys $3,200,944.52 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 222,907 shares of the company’s stock in a transaction that occurred on Thursday, July 17th. The shares were bought at an average cost of $14.36 per share, for a total transaction of $3,200,944.52. Following the acquisition, the chief executive officer directly owned 53,505,999 shares in the company, valued at $768,346,145.64. This represents a 0.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Asana Stock Performance

Shares of Asana stock opened at $15.12 on Thursday. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a market capitalization of $3.56 billion, a PE ratio of -15.12 and a beta of 1.13. 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 has a 50-day simple moving average of $15.11 and a two-hundred day simple moving average of $16.90.

Asana (NYSE:ASAN) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 EPS 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 return on equity of 87.78% and a negative net margin of 31.38%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted ($0.06) earnings per share. Research analysts expect that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ASAN has been the topic of several research analyst reports. HSBC restated a “reduce” rating and issued a $10.00 price objective (down from $13.00) on shares of Asana in a research report on Wednesday, June 4th. Robert W. Baird lifted their price objective on shares of Asana from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. KeyCorp reissued a “sector weight” rating on shares of Asana in a research note on Wednesday, June 4th. FBN Securities raised Asana to a “strong-buy” rating in a research note on Wednesday, June 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $22.00 target price on shares of Asana in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.97.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 111 Capital purchased a new position in shares of Asana during the 2nd quarter worth $186,000. GC Wealth Management RIA LLC acquired a new stake in Asana during the second quarter worth about $831,000. Catalyst Private Wealth LLC raised its stake in Asana by 3.1% during the second quarter. Catalyst Private Wealth LLC now owns 42,984 shares of the company’s stock worth $580,000 after purchasing an additional 1,285 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Asana by 14.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,622 shares of the company’s stock valued at $278,000 after buying an additional 2,543 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Asana by 3.1% during the 1st quarter. Rhumbline Advisers now owns 125,556 shares of the company’s stock worth $1,829,000 after buying an additional 3,739 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.