Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz Buys 225,000 Shares

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average price of $14.41 per share, for a total transaction of $3,242,250.00. Following the completion of the transaction, the chief executive officer now directly owns 50,147,943 shares in the company, valued at approximately $722,631,858.63. This represents a 0.45 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Asana Price Performance

Asana stock opened at $16.09 on Thursday. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a 50 day moving average price of $18.69 and a 200 day moving average price of $17.02. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -14.37 and a beta of 1.13.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ASAN shares. Piper Sandler cut their target price on shares of Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Scotiabank cut their price objective on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 11th. JMP Securities set a $22.00 target price on Asana in a report on Tuesday, March 11th. JPMorgan Chase & Co. cut their price target on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Tuesday, March 11th. Finally, Jefferies Financial Group decreased their price objective on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.67.

Institutional Trading of Asana

Several institutional investors have recently made changes to their positions in ASAN. Quarry LP purchased a new position in shares of Asana in the 4th quarter worth $29,000. Bogart Wealth LLC acquired a new stake in Asana during the fourth quarter worth about $61,000. SBI Securities Co. Ltd. purchased a new position in shares of Asana in the 4th quarter worth about $82,000. KBC Group NV raised its holdings in shares of Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after purchasing an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Asana in the 4th quarter valued at about $135,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.