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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was bought at an average cost of $14.72 per share, for a total transaction of $3,312,000.00. Following the acquisition, the chief executive officer now directly owns 50,372,943 shares of the company’s stock, valued at $741,489,720.96. This represents a 0.45 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Asana Stock Down 3.1 %

Shares of Asana stock traded down $0.45 on Monday, hitting $13.71. 5,107,399 shares of the company traded hands, compared to its average volume of 2,695,517. The company has a quick ratio of 1.49, a current 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 company has a 50-day moving average price of $18.46 and a 200 day moving average price of $17.08. The company has a market cap of $3.19 billion, a PE ratio of -12.24 and a beta of 1.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ASAN. Quarry LP purchased a new stake in shares of Asana during the 4th quarter worth about $29,000. Bogart Wealth LLC acquired a new position in Asana in the fourth quarter worth approximately $61,000. SBI Securities Co. Ltd. bought a new position in Asana during the fourth quarter valued at approximately $82,000. KBC Group NV lifted its stake in Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after acquiring an additional 2,078 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Asana in the fourth quarter worth approximately $135,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Analysts Set New Price Targets

ASAN has been the topic of a number of recent analyst reports. DA Davidson cut their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Piper Sandler dropped their price target on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. JMP Securities set a $22.00 price objective on shares of Asana in a research note on Tuesday, March 11th. Bank of America dropped their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Finally, Morgan Stanley reduced their price target on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Two 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.