Insider Activity Report: Asana (ASAN)

Dustin Moskovitz, President and CEO at Asana (ASAN), recently bought 160,000 shares. The buy came to a total price of $3.475 million, and increased his stake by less than 1 percent.

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  • This is the fourth purchase of 160,000 share lots in the past four weeks. And he has been a buyer of shares on 30 occasions going back to late 2021, without being a seller of shares.

    Overall, company insiders own 39.9 percent of shares.

    The work management platform software company has roughly doubled so far this year, but is still down about 83 percent from its all-time high set in 2021.

    While not yet profitable, Asana has managed to increase revenues by nearly 27 percent over the last year. Despite losing money, Asana has a strong balance sheet, with more cash than debt on it right now.

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  • Action to take: If the company can increase revenues and start to earn a profit, shares may likely trend back to their prior highs in time. That could lead to triple-digit returns for patient shareholders today, although it may take some time for that trend to play out.

    For traders, the November $30 calls, last going for about $1.65, plays well to the current uptrend in shares. Traders can likely nab mid-double-digit gains well before the options expire.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.


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