Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Acquires $3,449,250.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $15.33 per share, for a total transaction of $3,449,250.00. Following the purchase, the chief executive officer now directly owns 49,473,436 shares in the company, valued at $758,427,773.88. This represents a 0.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Asana Stock Up 0.5 %

ASAN stock opened at $14.87 on Friday. Asana, Inc. has a one year low of $11.05 and a one 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’s fifty day moving average is $18.97 and its 200 day moving average is $16.94. The firm has a market cap of $3.46 billion, a PE ratio of -13.27 and a beta of 1.13.

Institutional Investors Weigh In On Asana

Institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Asana in the 4th quarter valued at about $29,000. Quest Partners LLC acquired a new stake in Asana in the third quarter valued at approximately $43,000. Bogart Wealth LLC acquired a new position in shares of Asana during the 4th quarter worth approximately $61,000. SBI Securities Co. Ltd. acquired a new position in shares of Asana during the 4th quarter worth approximately $82,000. Finally, KBC Group NV lifted its position in shares of 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 buying an additional 2,078 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ASAN. Piper Sandler cut their target price on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a research note on Friday, December 6th. Scotiabank reduced their price objective on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 11th. Oppenheimer upped their target price on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group reduced their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Two equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.