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

by · The Markets Daily

Asana, Inc. (NYSE:ASAN – Get Free Report) Director Dustin A. Moskovitz acquired 225,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $14.04 per share, for a total transaction of $3,159,000.00. Following the transaction, the director directly owned 55,305,999 shares of the company’s stock, valued at approximately $776,496,225.96. This trade represents a 0.41% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Asana Trading Down 1.6%

ASAN opened at $14.13 on Wednesday. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -14.13 and a beta of 1.14. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The business’s 50 day moving average is $14.57 and its two-hundred day moving average is $16.57. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16.

Asana (NYSE:ASAN – Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, research analysts predict that Asana, Inc. will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new position in shares of Asana in the 2nd quarter valued at approximately $27,000. Banque Cantonale Vaudoise purchased a new position in shares of Asana in the 1st quarter valued at approximately $28,000. Quarry LP purchased a new position in shares of Asana in the 4th quarter valued at approximately $29,000. AlphaQuest LLC grew its stake in shares of Asana by 825.1% in the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company’s stock valued at $36,000 after purchasing an additional 2,203 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Asana in the 4th quarter valued at approximately $135,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ASAN shares. KeyCorp reaffirmed a “sector weight” rating on shares of Asana in a research report on Wednesday, June 4th. FBN Securities raised Asana to a “strong-buy” rating in a research report on Wednesday, June 4th. Robert W. Baird increased their price target on Asana from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Scotiabank increased their price target on Asana from $12.00 to $16.50 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Finally, Piper Sandler increased their price target on Asana from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Asana has an average rating of “Hold” and an average target price of $15.97.

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Asana Company Profile

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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.

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