Asana, Inc. (NYSE:ASAN) CEO Purchases $3,312,000.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $14.72 per share, with a total value of $3,312,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 50,372,943 shares in the company, valued at approximately $741,489,720.96. This trade represents a 0.45 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Asana Price Performance

Shares of NYSE:ASAN traded down $0.45 during trading on Monday, reaching $13.71. The company had a trading volume of 5,107,399 shares, compared to its average volume of 2,695,517. Asana, Inc. has a twelve month low of $11.05 and a twelve month 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 has a market capitalization of $3.19 billion, a PE ratio of -12.24 and a beta of 1.23. The firm’s fifty day moving average is $18.46 and its 200 day moving average is $17.08.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its stake in shares of Asana by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after buying an additional 937,726 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after acquiring an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Asana in the fourth quarter worth about $38,966,000. Geode Capital Management LLC raised its position in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after acquiring an additional 12,055 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Asana by 17.6% in the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock valued at $35,350,000 after acquiring an additional 261,298 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup lifted their target price on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Jefferies Financial Group lowered their price objective on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Piper Sandler dropped 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. Robert W. Baird reduced their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 price objective on shares of Asana in a report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock 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.