Asana, Inc. (NYSE:ASAN) CEO Buys $3,449,250.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 225,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was purchased at an average price of $15.33 per share, for a total transaction of $3,449,250.00. Following the transaction, the chief executive officer now owns 49,473,436 shares of the company’s stock, valued at approximately $758,427,773.88. This represents a 0.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Asana Trading Up 0.5 %

NYSE ASAN opened at $14.87 on Friday. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The stock has a market capitalization of $3.46 billion, a P/E ratio of -13.27 and a beta of 1.13. The firm’s 50-day moving average is $18.97 and its two-hundred day moving average is $16.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Analyst Upgrades and Downgrades

ASAN has been the topic of a number of research reports. Piper Sandler decreased their price objective on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group reduced their target price on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada restated an “underperform” rating and set a $10.00 price target on shares of Asana in a research report on Friday, December 6th. Robert W. Baird cut their price objective 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 target price on Asana in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Asana currently has an average rating of “Hold” and an average target price of $15.67.

Hedge Funds Weigh In On Asana

Institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Asana during the fourth quarter worth $29,000. Bogart Wealth LLC acquired a new stake in Asana in the 4th quarter valued at about $61,000. Quest Partners LLC purchased a new position in shares of Asana in the 3rd quarter valued at about $43,000. SBI Securities Co. Ltd. acquired a new position in shares of Asana during the fourth quarter worth about $82,000. Finally, KBC Group NV increased its stake in shares of Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after buying an additional 2,078 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

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.