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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average cost of $15.64 per share, for a total transaction of $3,519,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,272,943 shares in the company, valued at $801,908,828.52. This represents a 0.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Asana Stock Down 4.6 %

Shares of ASAN stock traded down $0.76 during trading hours on Thursday, reaching $15.51. 3,080,639 shares of the stock were exchanged, compared to its average volume of 2,728,730. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The firm has a market capitalization of $3.61 billion, a P/E ratio of -13.84 and a beta of 1.23. The business’s fifty day moving average is $17.80 and its two-hundred day moving average is $17.10.

Institutional Investors Weigh In On Asana

Several institutional investors have recently modified their holdings of ASAN. Arrowstreet Capital Limited Partnership purchased a new position in shares of Asana during the fourth quarter worth about $38,966,000. Paradice Investment Management LLC acquired a new stake in shares of Asana in the 4th quarter worth $22,507,000. Two Sigma Investments LP boosted its holdings in Asana by 288.1% in the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock valued at $28,481,000 after purchasing an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC grew its holdings in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after acquiring an additional 937,726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Asana during the 4th quarter worth $11,781,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ASAN. JMP Securities set a $22.00 target price on shares of Asana in a research report on Tuesday, March 11th. Piper Sandler lowered their target price on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley cut their price objective on Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Bank of America dropped their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group cut their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average 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.