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 the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average cost of $15.33 per share, with a total value of $3,449,250.00. Following the acquisition, the chief executive officer now directly owns 49,473,436 shares of the company’s stock, valued at approximately $758,427,773.88. This trade represents a 0.46 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Asana Stock Down 2.7 %

Asana stock opened at $14.77 on Friday. 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 stock has a market capitalization of $3.38 billion, a PE ratio of -13.18 and a beta of 1.13. The business has a 50 day simple moving average of $19.06 and a 200-day simple moving average of $16.88. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77.

Institutional Investors Weigh In On Asana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in Asana during the third quarter valued at $43,000. Intech Investment Management LLC purchased a new stake in shares of Asana during the third quarter worth about $456,000. Quantbot Technologies LP raised its position in shares of Asana by 157.7% during the 3rd quarter. Quantbot Technologies LP now owns 26,008 shares of the company’s stock worth $301,000 after purchasing an additional 15,917 shares during the last quarter. FMR LLC lifted its stake in Asana by 1,419.9% in the 3rd quarter. FMR LLC now owns 24,029 shares of the company’s stock valued at $278,000 after buying an additional 22,448 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in Asana in the 3rd quarter worth about $642,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ASAN. Piper Sandler decreased their price objective on shares of Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Bank of America decreased their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. UBS Group cut their price target on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird decreased their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Scotiabank dropped their target price on Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.67.

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.