Asana, Inc. (NYSE:ASAN – Get Free Report)’s share price was up 3.4% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $21.72 and last traded at $21.72. Approximately 506,112 shares were traded during trading, a decline of 82% from the average daily volume of 2,806,896 shares. The stock had previously closed at $21.00.
Specifically, COO Anne Raimondi sold 8,005 shares of Asana stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $22.93, for a total value of $183,554.65. Following the transaction, the chief operating officer now owns 559,342 shares in the company, valued at approximately $12,825,712.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Dustin A. Moskovitz acquired 80,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average cost of $21.49 per share, with a total value of $1,719,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 41,112,803 shares of the company’s stock, valued at $883,514,136.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anne Raimondi sold 8,005 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $22.93, for a total transaction of $183,554.65. Following the sale, the chief operating officer now directly owns 559,342 shares of the company’s stock, valued at $12,825,712.06. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 880,000 shares of company stock worth $19,627,200 and have sold 359,959 shares worth $8,933,088. 63.26% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
ASAN has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Asana from $24.00 to $26.00 in a research report on Wednesday, June 21st. Oppenheimer raised their price target on shares of Asana from $25.00 to $28.00 in a research note on Friday, June 2nd. DA Davidson cut shares of Asana from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Friday, June 2nd. Finally, JMP Securities raised their price target on shares of Asana from $28.00 to $30.00 in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Asana has an average rating of “Hold” and a consensus price target of $22.48.
Asana Stock Performance
The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50 day simple moving average is $22.67 and its 200-day simple moving average is $19.82. The company has a market cap of $4.74 billion, a price-to-earnings ratio of -12.15 and a beta of 1.21.
Asana (NYSE:ASAN – Get Free Report) last announced its quarterly earnings results on Thursday, June 1st. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. The firm had revenue of $152.41 million for the quarter, compared to analysts’ expectations of $150.55 million. Asana had a negative net margin of 63.97% and a negative return on equity of 121.25%. The company’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) EPS. On average, sell-side analysts predict that Asana, Inc. will post -1.33 EPS for the current year.
Hedge Funds Weigh In On Asana
Several hedge funds have recently bought and sold shares of ASAN. Westerly Capital Management LLC increased its stake in shares of Asana by 56.3% during the second quarter. Westerly Capital Management LLC now owns 625,000 shares of the company’s stock worth $13,775,000 after buying an additional 225,000 shares during the period. IFP Advisors Inc purchased a new stake in shares of Asana in the second quarter valued at approximately $76,000. State Street Corp boosted its position in Asana by 8.0% during the second quarter. State Street Corp now owns 2,211,225 shares of the company’s stock worth $48,735,000 after purchasing an additional 163,281 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Asana by 3.9% in the second quarter. Nuveen Asset Management LLC now owns 242,524 shares of the company’s stock valued at $5,345,000 after acquiring an additional 9,141 shares in the last quarter. Finally, Credit Suisse AG lifted its position in shares of Asana by 46.7% in the second quarter. Credit Suisse AG now owns 92,232 shares of the company’s stock valued at $2,033,000 after acquiring an additional 29,369 shares in the last quarter. Institutional investors and hedge funds own 24.18% of the company’s stock.
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; and manages product launches, marketing campaigns, and organization-wide goal settings.
See Also
- Five stocks we like better than Asana
- Want to Profit on the Downtrend? Downtrends, Explained.
- 3 Sizzling Dividends That Are Going On Sale
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- 3 Ways To Trade, Trade Desk Stock Post Earnings
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- Inflation, The Fed, and Oil Prices: Interest Rates Are Going Up
Receive News & Ratings for Asana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asana and related companies with MarketBeat.com's FREE daily email newsletter.
