Asana, Inc. (NYSE:ASAN) CEO Buys $3,154,500.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 225,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were acquired at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the purchase, the chief executive officer now owns 48,573,436 shares of the company’s stock, valued at $680,999,572.72. The trade was a 0.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Asana Stock Performance

Shares of Asana stock opened at $14.25 on Thursday. 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 52 week low of $11.05 and a 52 week high of $27.77. The firm’s 50 day moving average is $19.60 and its two-hundred day moving average is $16.83. The firm has a market capitalization of $3.26 billion, a P/E ratio of -12.72 and a beta of 1.13.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Oppenheimer increased their target price on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Bank of America lowered their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Robert W. Baird cut their target price on shares of Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. cut their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Asana presently has a consensus rating of “Hold” and a consensus target price of $15.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in Asana in the fourth quarter valued at $29,000. KBC Group NV lifted its holdings in shares of Asana by 52.1% in 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 last quarter. Quest Partners LLC acquired a new stake in shares of Asana in the 3rd quarter valued at about $43,000. Bogart Wealth LLC purchased a new position in Asana during the 4th quarter worth approximately $61,000. Finally, SBI Securities Co. Ltd. purchased a new position in Asana during the 4th quarter worth approximately $82,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.