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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the purchase, the chief executive officer now owns 48,123,436 shares of the company’s stock, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Asana Stock Up 1.1 %

Shares of NYSE ASAN traded up $0.15 on Monday, reaching $14.03. 3,665,271 shares of the company’s stock traded hands, compared to its average volume of 2,542,817. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The business’s 50 day simple moving average is $19.99 and its two-hundred day simple moving average is $16.84. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -12.52 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently made changes to their positions in ASAN. Quarry LP bought a new position in shares of Asana during the fourth quarter valued at approximately $29,000. KBC Group NV grew its holdings in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after buying an additional 1,211 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Asana during the third quarter valued at approximately $43,000. Bogart Wealth LLC purchased a new stake in shares of Asana during the fourth quarter valued at approximately $61,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Asana during the fourth quarter valued at approximately $82,000. Institutional investors own 26.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research note on Friday, December 6th. Scotiabank lowered their price objective on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 11th. Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 price target on shares of Asana in a research note on Friday, December 6th. Finally, JMP Securities increased their price target on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. 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’s stock. According to MarketBeat, Asana presently has an average rating of “Hold” and an average target price of $15.87.

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.