Asana, Inc. (NYSE:ASAN) CEO Buys $3,449,250.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average cost of $15.33 per share, with a total value of $3,449,250.00. Following the transaction, the chief executive officer now directly owns 49,473,436 shares in the company, valued at $758,427,773.88. This trade represents a 0.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Asana Stock Performance

Shares of ASAN stock traded down $0.42 during mid-day trading on Thursday, hitting $14.77. 1,791,334 shares of the stock were exchanged, compared to its average volume of 2,582,685. The stock’s fifty day simple moving average is $19.16 and its two-hundred day simple moving average is $16.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -13.18 and a beta of 1.13.

Analyst Ratings Changes

Several equities analysts recently issued reports on ASAN shares. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a research note on Friday, December 6th. Oppenheimer raised their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group cut their target price on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. JMP Securities set a $22.00 target price on shares of Asana in a report on Tuesday, March 11th. Finally, UBS Group dropped their price target on shares of Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.67.

Hedge Funds Weigh In On Asana

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Asana by 105.6% during 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 during the period. XTX Topco Ltd purchased a new stake in shares of Asana in the third quarter valued at about $538,000. Neo Ivy Capital Management boosted its stake in shares of Asana by 195.1% during 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Asana by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,792 shares of the company’s stock worth $14,083,000 after buying an additional 48,831 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Asana in the 4th quarter valued at about $2,349,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.