Dustin A. Moskovitz Purchases 50,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 50,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were bought at an average cost of $15.84 per share, with a total value of $792,000.00. Following the acquisition, the chief executive officer now directly owns 51,398,436 shares of the company’s stock, valued at $814,151,226.24. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Asana Trading Down 1.4 %

ASAN stock opened at $14.84 on Friday. The firm has a fifty day moving average price of $16.85 and a 200 day moving average price of $17.24. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The firm has a market cap of $3.46 billion, a PE ratio of -13.25 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Hedge Funds Weigh In On Asana

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Scotiabank decreased 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. Morgan Stanley dropped their target price on shares of Asana from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday. JMP Securities set a $22.00 price target on Asana in a report on Tuesday, March 11th. Finally, Robert W. Baird dropped their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Asana has an average rating of “Hold” and an average price target of $15.60.

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.