Dustin A. Moskovitz Buys 224,507 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 224,507 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was bought at an average price of $14.72 per share, with a total value of $3,304,743.04. Following the acquisition, the chief executive officer now owns 49,922,943 shares in the company, valued at approximately $734,865,720.96. This trade represents a 0.45 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Asana Trading Up 5.1 %

NYSE:ASAN opened at $16.09 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a 50-day simple moving average of $18.69 and a 200-day simple moving average of $17.02. 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 $3.75 billion, a P/E ratio of -14.37 and a beta of 1.13.

Hedge Funds Weigh In On Asana

A number of large investors have recently bought and sold shares of the business. Brooklyn FI LLC bought a new stake in Asana during the 4th quarter valued at $8,138,000. Vise Technologies Inc. boosted its position in Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock valued at $320,000 after purchasing an additional 959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 last quarter. Voloridge Investment Management LLC raised its holdings in Asana by 25.6% in 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 in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Asana during the fourth quarter valued at about $1,745,000. Institutional investors own 26.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ASAN. Oppenheimer lifted their price objective on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Morgan Stanley cut their price target 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. Bank of America reduced their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Finally, Jefferies Financial Group decreased their price target on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.