Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Purchases 225,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The shares were bought at an average price of $13.96 per share, for a total transaction of $3,141,000.00. Following the completion of the purchase, the chief executive officer directly owned 53,058,092 shares in the company, valued at $740,690,964.32. This represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Asana Stock Performance

Shares of ASAN opened at $14.42 on Friday. 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 stock has a market cap of $3.39 billion, a P/E ratio of -14.42 and a beta of 1.13. The company has a 50-day moving average of $15.34 and a two-hundred day moving average of $17.04. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77.

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 business had revenue of $187.63 million during the quarter, compared to analyst estimates of $185.40 million. Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.06) earnings per share. As a group, research analysts predict that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently modified their holdings of the company. Voya Investment Management LLC raised its position in shares of 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 buying an additional 937,726 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company’s stock valued at $155,261,000 after buying an additional 475,100 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock valued at $43,574,000 after buying an additional 438,057 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Asana in the fourth quarter valued at approximately $38,966,000. Finally, First Trust Advisors LP grew its holdings in Asana by 17.6% in the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock valued at $35,350,000 after purchasing an additional 261,298 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ASAN shares. FBN Securities raised shares of Asana to a “strong-buy” rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Asana from a “hold” rating to a “buy” rating in a report on Friday, June 6th. UBS Group lifted their target price on shares of Asana from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, June 4th. KeyCorp reaffirmed a “sector weight” rating on shares of Asana in a report on Wednesday, June 4th. Finally, HSBC reaffirmed a “reduce” rating and issued a $10.00 target price (down previously from $13.00) on shares of Asana in a report on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.97.

About Asana

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.