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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $14.34 per share, with a total value of $3,226,500.00. Following the acquisition, the chief executive officer now owns 49,023,436 shares of the company’s stock, valued at $702,996,072.24. This trade represents a 0.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Asana Stock Performance

ASAN traded down $0.27 during midday trading on Thursday, hitting $14.00. 3,524,213 shares of the company were exchanged, compared to its average volume of 2,569,933. The company’s 50 day simple moving average is $19.60 and its 200 day simple moving average is $16.83. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -12.50 and a beta of 1.13. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77.

Institutional Investors Weigh In On Asana

Institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of Asana during the 4th quarter valued at about $29,000. KBC Group NV grew its position in shares of Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC acquired a new stake in shares of Asana during the 3rd quarter valued at about $43,000. Bogart Wealth LLC acquired a new stake in shares of Asana during the 4th quarter valued at about $61,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Asana during the 4th quarter valued at about $82,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASAN. Oppenheimer increased their price objective on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Bank of America decreased their price objective on Asana from $30.00 to $25.00 and set a “buy” 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. Citigroup increased their price objective on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, Piper Sandler reduced their target price on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Asana presently has a consensus rating of “Hold” and an average price target of $15.67.

About Asana

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.