Asana, Inc. (NYSE:ASAN) CEO Acquires $3,242,250.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average cost of $14.41 per share, with a total value of $3,242,250.00. Following the purchase, the chief executive officer now directly owns 50,147,943 shares of the company’s stock, valued at $722,631,858.63. This trade represents a 0.45 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asana Stock Up 4.8 %

NYSE ASAN traded up $0.71 during mid-day trading on Tuesday, reaching $15.28. The stock had a trading volume of 2,383,599 shares, compared to its average volume of 2,657,005. The stock has a market cap of $3.56 billion, a PE ratio of -13.64 and a beta of 1.13. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. 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 company has a fifty day moving average price of $18.87 and a 200 day moving average price of $17.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership bought a new stake in Asana in the 4th quarter worth about $38,966,000. Paradice Investment Management LLC purchased a new stake in shares of Asana during the 4th quarter valued at about $22,507,000. Two Sigma Investments LP grew its stake in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after acquiring an additional 1,043,047 shares during the period. Voya Investment Management LLC raised its holdings in shares of Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock valued at $254,166,000 after purchasing an additional 937,726 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Asana during the fourth quarter valued at approximately $11,781,000. 26.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

ASAN has been the subject of several research reports. Scotiabank decreased their price objective on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. DA Davidson lowered their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Jefferies Financial Group cut their price objective on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, March 11th. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price for the company in a research report on Friday, December 6th. Finally, Robert W. Baird dropped their price target on Asana from $23.00 to $13.00 and set a “neutral” 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.67.

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.