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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was purchased at an average cost of $15.33 per share, for a total transaction of $3,449,250.00. Following the completion of the purchase, the chief executive officer now directly owns 49,473,436 shares in the company, valued at $758,427,773.88. This trade represents a 0.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asana Trading Down 2.7 %

ASAN traded down $0.42 during trading on Thursday, hitting $14.77. The company’s stock had a trading volume of 1,791,334 shares, compared to its average volume of 2,582,685. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The stock has a market cap of $3.38 billion, a PE ratio of -13.18 and a beta of 1.13. The firm’s 50 day moving average price is $19.16 and its 200-day moving average price is $16.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Wall Street Analysts Forecast Growth

ASAN has been the subject of a number of recent analyst reports. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird cut their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Scotiabank decreased 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 report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 price target on shares of Asana in a report on Tuesday, March 11th. Two research 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. According to data from MarketBeat, Asana presently has a consensus rating of “Hold” and a consensus target price of $15.67.

Hedge Funds Weigh In On Asana

Several institutional investors have recently added to or reduced their stakes in ASAN. Brooklyn FI LLC acquired a new stake in Asana in the 4th quarter worth about $8,138,000. Vise Technologies Inc. boosted its position in shares of Asana by 6.5% in the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after acquiring an additional 959 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Asana by 12.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,025 shares of the company’s stock valued at $4,582,000 after purchasing an additional 25,607 shares during the period. Voloridge Investment Management LLC increased its position in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after purchasing an additional 438,057 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in Asana during the fourth quarter worth approximately $1,745,000. 26.21% of the stock is currently 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.