Asana, Inc. (NYSE:ASAN) CEO Buys $3,154,500.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction dated Monday, March 17th. The shares were bought at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,573,436 shares of the company’s stock, valued at approximately $680,999,572.72. This represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Asana Stock Performance

NYSE:ASAN traded up $0.15 on Monday, hitting $14.03. The stock had a trading volume of 3,665,271 shares, compared to its average volume of 2,542,817. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -12.52 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $19.99 and its two-hundred day simple moving average is $16.84. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ASAN. GSA Capital Partners LLP bought a new position in shares of Asana in the third quarter worth about $497,000. KBC Group NV raised its stake in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares during the period. Quest Partners LLC bought a new position in shares of Asana in the third quarter worth about $43,000. Meeder Asset Management Inc. bought a new position in shares of Asana in the third quarter worth about $603,000. Finally, Intech Investment Management LLC bought a new position in shares of Asana in the third quarter worth about $456,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ASAN. Robert W. Baird reduced their price target on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. UBS Group reduced their price target on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a report on Friday, December 6th. Citigroup increased their price objective on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, DA Davidson dropped their price objective on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.87.

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.