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 company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average price of $14.34 per share, for a total transaction of $3,226,500.00. Following the completion of the transaction, the chief executive officer now directly owns 49,023,436 shares of the company’s stock, valued at $702,996,072.24. This represents a 0.46 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asana Stock Up 3.1 %

Asana stock opened at $14.44 on Friday. The stock has a market cap of $3.30 billion, a PE ratio of -12.89 and a beta of 1.13. 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 one year low of $11.05 and a one year high of $27.77. The stock has a fifty day moving average of $19.39 and a 200 day moving average of $16.81.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JMP Securities set a $22.00 target price on Asana in a report on Tuesday, March 11th. Bank of America dropped their target price on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group dropped their target price on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. Finally, Citigroup upped 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Asana has a consensus rating of “Hold” and a consensus target price of $15.67.

Institutional Trading of Asana

A number of hedge funds have recently bought and sold shares of ASAN. GSA Capital Partners LLP purchased a new stake in Asana during the third quarter valued at $497,000. KBC Group NV increased its position in Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new stake in Asana in the third quarter worth about $43,000. Meeder Asset Management Inc. purchased a new stake in Asana in the third quarter worth about $603,000. Finally, Intech Investment Management LLC purchased a new stake in Asana in the third quarter worth about $456,000. Hedge funds and other institutional investors 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.