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 the stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the transaction, the chief executive officer now owns 48,573,436 shares in the company, valued at $680,999,572.72. The trade was a 0.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Asana Price Performance

NYSE ASAN opened at $14.25 on Thursday. The stock’s fifty day moving average price is $19.60 and its 200 day moving average price is $16.83. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -12.72 and a beta of 1.13.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASAN. Vise Technologies Inc. raised its position in Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after acquiring an additional 959 shares during the period. KBC Group NV boosted its holdings in Asana by 52.1% in the 3rd 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 last quarter. Quarry LP purchased a new stake in Asana during the 4th quarter worth approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Asana by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock valued at $937,000 after purchasing an additional 2,538 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Asana by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 49,483 shares of the company’s stock valued at $1,003,000 after purchasing an additional 2,668 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ASAN. Oppenheimer lifted their price objective on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Robert W. Baird reduced their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. DA Davidson dropped their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. JMP Securities set a $22.00 target price on shares of Asana in a report on Tuesday, March 11th. Finally, Citigroup lifted their price target on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Asana has a consensus rating of “Hold” and an average price target 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.