Asana, Inc. (NYSE:ASAN) CEO Buys $3,226,500.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of $14.34 per share, for a total transaction of $3,226,500.00. Following the completion of the transaction, the chief executive officer now directly owns 49,023,436 shares of the company’s stock, valued at $702,996,072.24. This represents a 0.46 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Asana Trading Down 1.9 %

Shares of ASAN traded down $0.27 during mid-day trading on Thursday, reaching $14.00. 3,524,213 shares of the company’s stock traded hands, compared to its average volume of 2,569,933. The stock has a market cap of $3.20 billion, a P/E ratio of -12.50 and a beta of 1.13. The stock’s 50-day moving average is $19.60 and its two-hundred day moving average is $16.83. Asana, Inc. has a 12 month low of $11.05 and a 12 month 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASAN. Arrowstreet Capital Limited Partnership bought a new position in shares of Asana during the fourth quarter valued at approximately $38,966,000. Paradice Investment Management LLC bought a new position in Asana in the fourth quarter worth approximately $22,507,000. Two Sigma Investments LP grew its stake in Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after purchasing an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC grew 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 purchasing an additional 937,726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Asana in the fourth quarter worth approximately $11,781,000. Institutional investors own 26.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ASAN. Robert W. Baird reduced their target price on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Bank of America reduced their target price on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Scotiabank reduced 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. Piper Sandler reduced their target price on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Asana presently has an average rating of “Hold” and an average target price of $15.67.

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.