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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 224,507 shares of Asana stock in a transaction on Friday, March 28th. The stock was purchased at an average cost of $14.72 per share, with a total value of $3,304,743.04. Following the completion of the transaction, the chief executive officer now directly owns 49,922,943 shares in the company, valued at $734,865,720.96. This represents a 0.45 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Asana Price Performance

Shares of NYSE:ASAN opened at $15.28 on Wednesday. The company’s fifty day moving average price is $18.77 and its 200-day moving average price is $17.02. Asana, Inc. has a one year low of $11.05 and a one 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 firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -13.64 and a beta of 1.13.

Wall Street Analyst Weigh In

ASAN has been the topic of a number of research analyst reports. Scotiabank cut their target price on Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 price objective on shares of Asana in a research note on Friday, December 6th. Bank of America lowered their target price on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. DA Davidson decreased 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. Finally, Citigroup boosted their target price on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Two 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.67.

Institutional Trading of Asana

Several institutional investors have recently added to or reduced their stakes in ASAN. Quarry LP purchased a new stake in Asana in the fourth quarter worth $29,000. Bogart Wealth LLC bought a new position in shares of Asana during the fourth quarter valued at $61,000. SBI Securities Co. Ltd. purchased a new position in Asana in the fourth quarter worth about $82,000. KBC Group NV lifted its position in Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after acquiring an additional 2,078 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Asana during the fourth quarter valued at $135,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.