Dustin A. Moskovitz Purchases 224,507 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 224,507 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was bought at an average cost of $14.72 per share, with a total value of $3,304,743.04. Following the completion of the transaction, the chief executive officer now owns 49,922,943 shares in the company, valued at approximately $734,865,720.96. This trade represents a 0.45 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Asana Stock Up 5.1 %

ASAN opened at $16.09 on Thursday. The firm’s 50 day simple moving average is $18.69 and its two-hundred day simple moving average is $17.02. The company has a market capitalization of $3.75 billion, a PE ratio of -14.37 and a beta of 1.13. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASAN. Quarry LP bought a new stake in Asana in the 4th quarter worth approximately $29,000. Bogart Wealth LLC bought a new stake in Asana in the fourth quarter worth $61,000. SBI Securities Co. Ltd. purchased a new stake in Asana during the fourth quarter valued at $82,000. KBC Group NV lifted its position in Asana by 58.8% during the fourth 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 position in shares of Asana in the 4th quarter worth $135,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Wall Street Analyst Weigh In

ASAN has been the subject of a number of recent research reports. Bank of America lowered their price target on shares of Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. DA Davidson cut their price target on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley lowered their price objective on Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. JMP Securities set a $22.00 target price on Asana in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price target on Asana from $15.00 to $13.00 and set an “underweight” rating for the company 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 given a buy rating to the company. According to MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus 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.