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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Asana Stock Performance

ASAN traded up $0.15 during trading on Monday, hitting $14.03. The company’s stock had a trading volume of 3,665,271 shares, compared to its average volume of 2,542,817. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The firm has a market cap of $3.21 billion, a PE ratio of -12.52 and a beta of 1.13. The business’s 50 day simple moving average is $19.99 and its 200-day simple moving average is $16.84.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ASAN shares. JMP Securities raised their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Morgan Stanley dropped their target price on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Piper Sandler dropped their target price on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Bank of America dropped their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. Two 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.87.

Institutional Trading of Asana

Several institutional investors and hedge funds have recently modified their holdings of ASAN. Quarry LP bought a new stake in shares of Asana during the 4th quarter valued at $29,000. KBC Group NV raised its position in shares of Asana by 52.1% during the 3rd 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 bought a new stake in shares of Asana during the 3rd quarter valued at $43,000. Bogart Wealth LLC bought a new stake in shares of Asana during the 4th quarter valued at $61,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Asana during the 4th quarter valued at $82,000. 26.21% of the stock is currently owned by institutional investors.

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.