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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the acquisition, the chief executive officer now owns 48,123,436 shares of the company’s stock, valued at $621,273,558.76. This trade represents a 0.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Asana Trading Down 0.5 %

NYSE:ASAN opened at $14.00 on Wednesday. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The firm has a fifty day simple moving average of $19.71 and a 200-day simple moving average of $16.84. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.20 billion, a P/E ratio of -12.50 and a beta of 1.13.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ASAN. Oppenheimer lifted their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. DA Davidson cut their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday, March 11th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Finally, Piper Sandler lowered their target price on shares of 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 assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.67.

Institutional Investors Weigh In On Asana

Several institutional investors and hedge funds have recently made changes to their positions in ASAN. Quarry LP acquired a new stake in shares of Asana during the fourth quarter worth $29,000. KBC Group NV lifted its position in 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 purchasing an additional 1,211 shares during the period. Quest Partners LLC acquired a new position in Asana during the third quarter valued at $43,000. Bogart Wealth LLC acquired a new position in Asana during the fourth quarter valued at $61,000. Finally, SBI Securities Co. Ltd. acquired a new position in Asana during the fourth quarter valued at $82,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.