Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz Acquires 225,000 Shares

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,123,436 shares of the company’s stock, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Asana Trading Up 1.7 %

NYSE:ASAN opened at $14.25 on Thursday. The company has a 50 day simple moving average of $19.60 and a two-hundred day simple moving average of $16.83. The company has a market cap of $3.26 billion, a PE ratio of -12.72 and a beta of 1.13. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77.

Institutional Trading of Asana

Large investors have recently modified their holdings of the company. Quarry LP purchased a new position in Asana in the fourth quarter worth about $29,000. KBC Group NV lifted 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 worth $41,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC bought a new position in shares of Asana in the 3rd quarter worth approximately $43,000. Bogart Wealth LLC purchased a new position in shares of Asana in the fourth quarter worth approximately $61,000. Finally, SBI Securities Co. Ltd. bought a new stake in Asana during the fourth quarter valued at approximately $82,000. Institutional investors own 26.21% of the company’s stock.

Analysts Set New Price Targets

ASAN has been the subject of a number of analyst reports. 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 report on Tuesday, March 11th. Morgan Stanley reduced their price target on Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Citigroup upped 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. KeyCorp upgraded shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Asana currently has an average rating of “Hold” and an average price target of $15.67.

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.