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

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

Asana Price Performance

Shares of NYSE:ASAN opened at $14.00 on Friday. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The business has a fifty day simple moving average of $19.49 and a 200 day simple moving average of $16.81. 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 firm has a market cap of $3.20 billion, a price-to-earnings ratio of -12.50 and a beta of 1.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after purchasing an additional 427,576 shares in the last quarter. XTX Topco Ltd acquired a new position in Asana in the third quarter valued at about $538,000. Neo Ivy Capital Management boosted its position in Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after buying an additional 112,038 shares in the last quarter. Friedenthal Financial bought a new position in Asana in the 4th quarter valued at $762,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Asana in the third quarter valued at $456,000. Institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler lowered 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. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Tuesday, March 11th. Citigroup lifted their price target on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Jefferies Financial Group dropped 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. Finally, Bank of America decreased their price target on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Two equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.