Microsoft shares jump after fourth-quarter earnings beat on AI-fueled cloud growth
Dustin A. Moskovitz, the President, CEO, and Chair of Asana, Inc. (NYSE:ASAN), has recently acquired a significant number of shares in the company. According to a recent SEC filing, Moskovitz purchased a total of 450,000 shares of Asana’s Class A common stock over two days. The timing is notable as the stock has shown strong momentum with a 5.64% gain over the past week, despite trading below InvestingPro’s calculated Fair Value.
On March 25, Moskovitz bought 225,000 shares at a weighted average price of $15.33 per share. The following day, March 26, he acquired another 225,000 shares, this time at a weighted average price of $15.16 per share. These transactions were executed under a Rule 10b5-1 trading plan, which had been adopted on September 5, 2024. According to InvestingPro data, the company maintains impressive gross profit margins of 89.34%, while 13 analysts have recently revised their earnings estimates upward.
The total value of these purchases amounts to approximately $6.86 million, with the shares being bought within a price range of $14.96 to $15.48 per share. Following these transactions, Moskovitz’s direct holdings in Asana increased to 49,698,436 shares. Additionally, he holds 4,147,046 shares indirectly through a trust.
These strategic acquisitions by Moskovitz highlight his continued confidence in Asana’s growth prospects.
In other recent news, Asana’s latest quarterly earnings and revenue results have garnered significant attention from analysts and investors. The company reported a fourth-quarter margin outperformance and set a fiscal year 2026 margin forecast of up to 5%, which is a notable improvement from the previous market consensus. However, Asana’s revenue growth forecast of 9-10% for fiscal year 2026 has tempered expectations, as it falls short of prior projections. Amidst these developments, Asana’s co-founder and CEO, Dustin Moskovitz, announced his decision to step down, which has further impacted investor sentiment.
Several analyst firms have adjusted their outlooks on Asana. Piper Sandler reduced the price target to $18 while maintaining an Overweight rating, citing reduced growth estimates and execution risks associated with the leadership transition. UBS lowered its price target to $14 and maintained a Neutral rating, emphasizing the need for more assurance in near-term growth prospects. RBC Capital reaffirmed its Underperform rating with a $10 target, noting challenges within the tech sector and macroeconomic headwinds.
Scotiabank (TSX:BNS) also adjusted its price target to $12, maintaining a Sector Perform rating due to Asana’s smallest revenue beat since going public. Meanwhile, Morgan Stanley (NYSE:MS) decreased its price target to $15, retaining an Equalweight rating, and highlighted the leadership change and cautious fiscal year 2026 guidance as areas of concern. Asana’s journey forward will be closely watched as it navigates these challenges and seeks to stabilize its growth trajectory.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.