Dustin A. Moskovitz Purchases 50,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 50,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were purchased at an average price of $15.84 per share, with a total value of $792,000.00. Following the completion of the acquisition, the chief executive officer now owns 51,398,436 shares of the company’s stock, valued at $814,151,226.24. This trade represents a 0.10 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Asana Stock Down 1.4 %

ASAN stock opened at $14.84 on Friday. 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 1-year low of $11.05 and a 1-year high of $27.77. The stock has a market capitalization of $3.46 billion, a P/E ratio of -13.25 and a beta of 1.23. The business has a fifty day moving average price of $16.85 and a 200-day moving average price of $17.24.

Wall Street Analyst Weigh In

ASAN has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Citigroup upped their price objective on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Scotiabank cut their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of Asana from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Piper Sandler reduced their target price on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.60.

Institutional Trading of Asana

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Asana by 1,419.9% in the third quarter. FMR LLC now owns 24,029 shares of the company’s stock worth $278,000 after purchasing an additional 22,448 shares during the last quarter. Barclays PLC grew its holdings in shares of Asana by 103.0% in the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock worth $1,920,000 after acquiring an additional 84,114 shares during the period. Geode Capital Management LLC increased its position in Asana by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after acquiring an additional 12,055 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares during the period. Finally, Friedenthal Financial purchased a new position in Asana in the fourth quarter worth about $762,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.