Dustin Moskovitz, President and CEO of Asana, Inc. (NYSE:ASAN), recently acquired 50,000 shares of the company’s Class A common stock, according to a recent SEC filing. The purchase, totaling approximately $792,000, was made at an average price of $15.84 per share. According to InvestingPro data, the company maintains strong fundamentals with impressive 89% gross profit margins and a healthy balance sheet showing more cash than debt. The transactions were conducted under a Rule 10b5-1 trading plan that Moskovitz adopted on September 5, 2024. Following this acquisition, Moskovitz holds 51,398,436 shares directly, with an additional 4,147,046 shares held indirectly through a trust. While the company is not currently profitable, InvestingPro analysis shows analysts expect profitability this year, with 13 analysts recently revising earnings estimates upward. Discover more insights and exclusive analysis in the comprehensive Pro Research Report, available with an InvestingPro subscription.
In other recent news, Asana has been navigating a series of significant developments. The company reported its latest financial results, revealing a mixed outlook. Asana’s fourth-quarter revenue growth was modest, and its forecast for fiscal year 2026 suggests a deceleration in growth, with an anticipated 9-10% constant currency revenue increase. This has led to several analysts revising their price targets and ratings. Piper Sandler reduced its price target to $18 while maintaining an Overweight rating, citing a favorable risk-reward balance despite challenges. UBS adjusted its price target to $14, maintaining a Neutral stance, while RBC Capital reaffirmed its Underperform rating with a $10 target, expressing concerns about macroeconomic headwinds. Scotiabank (TSX:BNS) also revised its target to $12, noting the impact of macroeconomic factors and leadership changes. Asana announced that CEO Dustin Moskovitz will step down, transitioning to the role of board chair, which has been a focal point for investors. Amidst these changes, Asana has appointed Marc Boroditsky to its Board of Directors, bringing expertise in scaling SaaS companies.
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