Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz Buys 80,000 Shares

Posted by Defense World Staff on Sep 13th, 2023

Asana, Inc. (NYSE:ASAN – Get Free Report) CEO Dustin A. Moskovitz bought 80,000 shares of Asana stock in a transaction dated Monday, September 11th. The shares were acquired at an average price of $20.39 per share, with a total value of $1,631,200.00. Following the completion of the purchase, the chief executive officer now owns 42,917,649 shares in the company, valued at approximately $875,090,863.11. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Asana Stock Down 4.5 %

Asana stock opened at $19.29 on Wednesday. The firm has a market capitalization of $4.18 billion, a P/E ratio of -12.68 and a beta of 1.24. The company has a 50-day simple moving average of $21.76 and a 200-day simple moving average of $20.53. Asana, Inc. has a one year low of $11.32 and a one year high of $27.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.90 and a current ratio of 1.89.

Asana (NYSE:ASAN – Get Free Report) last posted its earnings results on Tuesday, September 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.07. The firm had revenue of $162.46 million during the quarter, compared to analysts’ expectations of $157.91 million. Asana had a negative net margin of 54.21% and a negative return on equity of 87.79%. Asana’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.59) EPS. As a group, equities analysts expect that Asana, Inc. will post -1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

ASAN has been the topic of several recent analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $24.00 price target (down from $26.00) on shares of Asana in a report on Thursday, September 7th. DA Davidson lowered shares of Asana from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research note on Friday, June 2nd. Morgan Stanley lowered their price objective on Asana from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, September 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 target price on shares of Asana in a report on Wednesday, September 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Asana in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.31.

Check Out Our Latest Stock Report on ASAN

Institutional Trading of Asana

Several large investors have recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in Asana by 118.7% during the 1st quarter. US Bancorp DE now owns 1,216 shares of the company’s stock worth $26,000 after acquiring an additional 660 shares during the period. FMR LLC raised its stake in shares of Asana by 120.4% during the second quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after purchasing an additional 862 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Asana in the first quarter worth about $33,000. Harvest Fund Management Co. Ltd acquired a new stake in Asana in the first quarter worth about $33,000. Finally, Advisors Asset Management Inc. grew its position in Asana by 47.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,715 shares of the company’s stock valued at $109,000 after buying an additional 868 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

About Asana

(Get Free Report)

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.