Dustin A. Moskovitz Acquires 225,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were bought at an average cost of $15.33 per share, with a total value of $3,449,250.00. Following the transaction, the chief executive officer now directly owns 49,473,436 shares of the company’s stock, valued at $758,427,773.88. This represents a 0.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Asana Stock Up 0.5 %

Asana stock opened at $14.87 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50-day moving average is $18.97 and its 200-day moving average is $16.90. The firm has a market capitalization of $3.40 billion, a PE ratio of -13.27 and a beta of 1.13. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Hedge Funds Weigh In On Asana

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP bought a new stake in Asana in the fourth quarter valued at approximately $29,000. Bogart Wealth LLC acquired a new position in shares of Asana during the 4th quarter worth approximately $61,000. Quest Partners LLC acquired a new position in shares of Asana during the 3rd quarter worth approximately $43,000. SBI Securities Co. Ltd. bought a new stake in Asana in the 4th quarter valued at $82,000. Finally, KBC Group NV lifted its holdings in Asana by 58.8% during the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after purchasing an additional 2,078 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Analysts Set New Price Targets

ASAN has been the subject of a number of research reports. Scotiabank lowered their target price on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. Morgan Stanley decreased their price objective on Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. UBS Group cut their target price on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 price target on shares of Asana in a research note on Friday, December 6th. Finally, Piper Sandler cut their price objective on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.67.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.