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Dustin Moskovitz, President, CEO, and Chair of Asana, Inc. (NYSE:ASAN), has recently made significant purchases of the company’s Class A common stock. These insider purchases come at an interesting time, as InvestingPro data shows the stock has fallen significantly over the last three months, though it maintains a strong 30% gain over the past six months. According to a filing with the Securities and Exchange Commission, Moskovitz acquired a total of 449,507 shares over two transactions.
The first transaction took place on March 28, 2025, where Moskovitz purchased 224,507 shares at a weighted average price of $14.72 per share, with prices ranging from $14.52 to $15.06. The second transaction occurred on March 31, 2025, involving the purchase of 225,000 shares at a weighted average price of $14.41, with prices ranging from $14.03 to $14.63. These purchases align with growing analyst optimism, as 13 analysts have recently revised their earnings expectations upward for the upcoming period.
These transactions were carried out under a Rule 10b5-1 trading plan, which Moskovitz adopted on September 5, 2024. Following these acquisitions, Moskovitz directly owns 50,147,943 shares of Asana. Additionally, he holds 4,147,046 shares indirectly through a trust. The total value of these recent purchases is approximately $6.5 million. According to InvestingPro analysis, Asana currently appears undervalued, with analysts projecting profitability this year despite current negative earnings.
In other recent news, Asana’s financial performance and leadership changes have been the focus of multiple analyst assessments. The company reported a fourth-quarter margin outperformance and forecasted fiscal year 2026 margins to reach up to 5%, surpassing market expectations. However, Asana’s revenue growth forecast of 9-10% constant currency for fiscal year 2026 fell short of prior estimates, leading several firms to adjust their price targets. Piper Sandler reduced its target to $18 but maintained an Overweight rating, while UBS lowered its target to $14 and kept a Neutral stance.
RBC Capital reaffirmed its Underperform rating with a $10 target, citing concerns about Asana’s growth amidst macroeconomic challenges. Scotiabank (TSX:BNS) adjusted its price target to $12, maintaining a Sector Perform rating, and noted the company’s struggles with tech sector contract reductions. Morgan Stanley (NYSE:MS) also revised its price target to $15, retaining an Equalweight rating, highlighting the impact of leadership changes and conservative fiscal guidance on investor sentiment. The departure of CEO Dustin Moskovitz, who will transition to the role of board chair, has been a significant development, with analysts keeping a close watch on how Asana navigates these changes.
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