Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Acquires $2,904,750.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the transaction, the chief executive officer now directly owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Asana Stock Performance

Shares of ASAN stock opened at $14.25 on Thursday. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -12.72 and a beta of 1.13. The stock has a fifty day moving average of $19.60 and a 200 day moving average of $16.83. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Analysts Set New Price Targets

A number of research analysts have commented on ASAN shares. Scotiabank reduced their price target 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. JPMorgan Chase & Co. decreased their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 11th. Oppenheimer upped their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective on the stock in a report on Friday, December 6th. Finally, UBS Group dropped their target price on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Two investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.67.

Institutional Investors Weigh In On Asana

A number of large investors have recently modified their holdings of the stock. Quarry LP bought a new position in Asana in the fourth quarter worth about $29,000. Bogart Wealth LLC bought a new position in shares of Asana in the 4th quarter worth approximately $61,000. KBC Group NV lifted its stake in shares of Asana by 52.1% in the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC bought a new stake in shares of Asana during the third quarter valued at approximately $43,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Asana in the fourth quarter worth $82,000. Institutional investors own 26.21% of the company’s stock.

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.