Dustin A. Moskovitz Buys 225,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction dated Monday, March 17th. The shares were acquired at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the purchase, the chief executive officer now owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. The trade was a 0.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Asana Trading Down 0.5 %

Shares of ASAN stock opened at $14.00 on Wednesday. The stock has a 50-day simple moving average of $19.71 and a 200 day simple moving average of $16.84. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The stock has a market capitalization of $3.20 billion, a P/E ratio of -12.50 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASAN. GSA Capital Partners LLP bought a new position in Asana during the third quarter valued at about $497,000. KBC Group NV boosted its position 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 period. Quest Partners LLC acquired a new position in shares of Asana in the 3rd quarter valued at $43,000. Meeder Asset Management Inc. acquired a new position in shares of Asana in the 3rd quarter valued at $603,000. Finally, Intech Investment Management LLC acquired a new position in shares of Asana in the 3rd quarter valued at $456,000. Institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ASAN. Robert W. Baird reduced their target price on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. JMP Securities set a $22.00 target price on Asana in a research note on Tuesday, March 11th. Morgan Stanley reduced their target price on Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Scotiabank reduced their target price on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 11th. Finally, KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Two 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.