Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz Purchases 225,000 Shares

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the transaction, the chief executive officer now directly owns 48,123,436 shares of the company’s stock, valued at $621,273,558.76. The trade was a 0.47 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Asana Stock Up 1.1 %

NYSE:ASAN opened at $14.03 on Tuesday. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a 50-day moving average of $19.83 and a 200 day moving average of $16.84. The firm has a market cap 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 current ratio of 1.49 and a quick ratio of 1.49.

Institutional Trading of Asana

A number of hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its stake in Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock worth $254,166,000 after acquiring an additional 937,726 shares during the period. Voloridge Investment Management LLC lifted its stake in Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after acquiring an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Asana in the fourth quarter worth about $38,966,000. Geode Capital Management LLC lifted its stake in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after acquiring an additional 12,055 shares during the period. Finally, First Trust Advisors LP lifted its stake in Asana by 17.6% in the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock worth $35,350,000 after acquiring an additional 261,298 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Piper Sandler cut their price objective on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley cut their price objective on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Scotiabank cut their price objective on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 11th. Finally, 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 research report on Tuesday, March 11th. Two equities research 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. Based on data from MarketBeat, Asana has an average rating of “Hold” and a consensus target price of $15.87.

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.