Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Acquires 225,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average price of $14.34 per share, with a total value of $3,226,500.00. Following the completion of the acquisition, the chief executive officer now owns 49,023,436 shares of the company’s stock, valued at $702,996,072.24. This represents a 0.46 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Asana Stock Down 1.9 %

Asana stock 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 stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -12.50 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The business has a fifty day moving average price of $19.49 and a 200-day moving average price of $16.81.

Hedge Funds Weigh In On Asana

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

Wall Street Analysts Forecast Growth

ASAN has been the topic of several recent research reports. Robert W. Baird lowered 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. JPMorgan Chase & Co. lowered their price target on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Tuesday, March 11th. Piper Sandler lowered their price objective on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Oppenheimer raised their price objective on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Asana presently has an average rating of “Hold” and a consensus price target of $15.67.

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.