Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Buys $3,226,500.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $14.34 per share, for a total transaction of $3,226,500.00. Following the acquisition, the chief executive officer now owns 49,023,436 shares in the company, valued at $702,996,072.24. This trade represents a 0.46 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Asana Stock Up 3.1 %

ASAN opened at $14.44 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a market cap of $3.30 billion, a PE ratio of -12.89 and a beta of 1.13. The company has a 50-day moving average price of $19.39 and a 200 day moving average price of $16.83.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ASAN shares. Piper Sandler cut their price objective on shares of Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Bank of America decreased their price objective on Asana from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. DA Davidson dropped their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Citigroup boosted their price target on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, Oppenheimer raised their price objective on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.67.

Hedge Funds Weigh In On Asana

Hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Asana during the fourth quarter worth approximately $38,966,000. Paradice Investment Management LLC purchased a new stake in shares of Asana during the fourth quarter worth $22,507,000. Two Sigma Investments LP raised its position in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock valued at $28,481,000 after buying an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock valued at $254,166,000 after buying an additional 937,726 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Asana in the fourth quarter worth about $11,781,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.