Asana, Inc. (NYSE:ASAN) CEO Purchases $2,904,750.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the transaction, the chief executive officer now owns 48,123,436 shares of the company’s stock, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Asana Trading Up 1.1 %

Asana stock opened at $14.03 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The stock’s 50 day simple moving average is $19.83 and its two-hundred day simple moving average is $16.84. The firm has a market cap of $3.21 billion, a PE ratio of -12.52 and a beta of 1.13.

Institutional Investors Weigh In On Asana

Several hedge funds have recently bought and sold shares of ASAN. GSA Capital Partners LLP purchased a new stake in Asana in the 3rd quarter worth approximately $497,000. KBC Group NV boosted its position in Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new stake in Asana in the 3rd quarter worth approximately $43,000. Meeder Asset Management Inc. purchased a new stake in Asana in the 3rd quarter worth approximately $603,000. Finally, Intech Investment Management LLC purchased a new position in shares of Asana during the 3rd quarter valued at approximately $456,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ASAN. Oppenheimer increased their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. DA Davidson cut their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Robert W. Baird cut their price objective on shares of Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective on the stock in a 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 issued a buy rating to the company. Based on data from MarketBeat, Asana presently has a consensus rating of “Hold” and an average price target of $15.87.

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.