Moskovitz Dreams of a Green Future

$350 million purchase. One of the largest insider purchases ever by an individual insider. Dustin Moskovitz, a co-founder of Facebook, has been making huge bets on his new venture Asana, Inc. (ASAN). ASAN is a software company building a work management platform. His $350 million dollar play is the most recent of 15 purchases, each tens of millions in total value, he's made since December 2021.

Sentiment graph from

Big Money, Big Dreams! Currently down 64% on the year, the stock has popped 33% since last Wednesday. Along with Moskovitz’s purchase, the company reported surprise earnings blowing past expectations. Moskovitz is giving the company a huge vote of confidence and a huge stack of cash. The $350 million was private placement meaning it’s a capital raising sale of stock. This gives ASAN a ton of money to work with, especially for a company that expects only $546 million in total revenue for the year. However, ASAN has never been profitable, a common theme among high growth tech stocks. Most recently, reporting a loss per share of $0.34 (above expected of -$0.39). Will this dream of profitability be realized, or will they squander all that cash?