Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Acquires 225,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were bought at an average price of $14.41 per share, for a total transaction of $3,242,250.00. Following the completion of the transaction, the chief executive officer now owns 50,147,943 shares of the company’s stock, valued at approximately $722,631,858.63. This trade represents a 0.45 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Asana Trading Up 4.8 %

NYSE:ASAN traded up $0.71 during trading hours on Tuesday, reaching $15.28. The company’s stock had a trading volume of 2,383,599 shares, compared to its average volume of 2,657,005. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -13.64 and a beta of 1.13. The firm has a 50-day simple moving average of $18.87 and a 200-day simple moving average of $17.00. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77.

Wall Street Analyst Weigh In

ASAN has been the topic of a number of analyst reports. JMP Securities set a $22.00 target price on shares of Asana in a report on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Asana in a report on Friday, December 6th. UBS Group dropped their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group decreased their target price on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. Finally, Bank of America dropped their price target on Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.67.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after purchasing an additional 427,576 shares during the last quarter. XTX Topco Ltd purchased a new stake in Asana during the 3rd quarter valued at $538,000. Neo Ivy Capital Management grew its holdings in Asana by 195.1% in the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after acquiring an additional 112,038 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Asana in the fourth quarter valued at about $2,349,000. Finally, Charles Schwab Investment Management Inc. raised its stake 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 valued at $14,083,000 after acquiring an additional 48,831 shares during the last quarter. 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.