Asana, Inc. (NYSE:ASAN) CEO Buys $3,120,750.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average price of $13.87 per share, for a total transaction of $3,120,750.00. Following the transaction, the chief executive officer now owns 50,822,943 shares of the company’s stock, valued at $704,914,219.41. This trade represents a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Asana Trading Up 17.7 %

Shares of ASAN stock opened at $16.22 on Thursday. 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 stock has a fifty day simple moving average of $17.80 and a two-hundred day simple moving average of $17.10. The firm has a market capitalization of $3.78 billion, a PE ratio of -14.49 and a beta of 1.23. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ASAN shares. Morgan Stanley lowered their price target on Asana from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. UBS Group dropped their target price on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Citigroup upped their price target on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Robert W. Baird dropped their price objective on shares of Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Scotiabank cut their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Asana currently has a consensus rating of “Hold” and an average target price of $15.67.

Hedge Funds Weigh In On Asana

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after purchasing an additional 427,576 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Asana during the third quarter valued at approximately $538,000. Neo Ivy Capital Management lifted its holdings in shares of Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after buying an additional 112,038 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Asana during the fourth quarter worth $2,349,000. Finally, Meeder Asset Management Inc. grew its stake in Asana by 49.2% during the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company’s stock valued at $1,572,000 after acquiring an additional 25,564 shares in the last quarter. 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.