Asana, Inc. (NYSE:ASAN) CEO Buys $3,154,500.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $14.02 per share, for a total transaction of $3,154,500.00. Following the purchase, the chief executive officer now directly owns 48,573,436 shares of the company’s stock, valued at approximately $680,999,572.72. This trade represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asana Price Performance

NYSE:ASAN traded up $0.15 during trading hours on Monday, reaching $14.03. The stock had a trading volume of 3,665,271 shares, compared to its average volume of 2,542,817. The stock has a market capitalization of $3.21 billion, a PE ratio of -12.52 and a beta of 1.13. 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 company has a 50 day moving average price of $19.99 and a two-hundred day moving average price of $16.84. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Bank of America decreased 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. Scotiabank decreased 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. Jefferies Financial Group decreased their target price on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Finally, DA Davidson decreased their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. 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. According to data from MarketBeat, Asana presently has a consensus rating of “Hold” and an average target price of $15.87.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. GSA Capital Partners LLP purchased a new position in shares of Asana in the 3rd quarter worth approximately $497,000. KBC Group NV boosted its holdings in shares of 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 during the period. Quest Partners LLC purchased a new position in shares of Asana in the 3rd quarter worth approximately $43,000. Meeder Asset Management Inc. purchased a new position in shares of Asana in the 3rd quarter worth approximately $603,000. Finally, Intech Investment Management LLC purchased a new position in shares of Asana in the 3rd quarter worth approximately $456,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.