Dustin A. Moskovitz Buys 225,000 Shares of Asana, Inc. (NYSE:ASAN) Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the transaction, the chief executive officer now directly owns 48,573,436 shares in the company, valued at $680,999,572.72. This trade represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Asana Stock Down 0.5 %

Shares of ASAN stock opened at $14.00 on Wednesday. The stock’s 50 day simple moving average is $19.71 and its 200 day simple moving average is $16.84. 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 twelve month low of $11.05 and a twelve month high of $27.77. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -12.50 and a beta of 1.13.

Wall Street Analysts Forecast Growth

ASAN has been the subject of several research analyst reports. Jefferies Financial Group reduced their price objective on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. JMP Securities set a $22.00 price objective on Asana in a research note on Tuesday, March 11th. Oppenheimer increased their price objective on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Piper Sandler reduced their price objective on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Finally, UBS Group reduced 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASAN. Quarry LP bought a new position in shares of Asana in the 4th quarter valued at approximately $29,000. KBC Group NV raised 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 acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC bought a new position in shares of Asana in the 3rd quarter valued at approximately $43,000. Bogart Wealth LLC bought a new position in shares of Asana in the 4th quarter valued at approximately $61,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Asana in the 4th quarter valued at approximately $82,000. 26.21% of the stock is owned by institutional investors.

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.