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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $13.87 per share, with a total value of $3,120,750.00. Following the purchase, the chief executive officer now owns 50,822,943 shares in the company, valued at approximately $704,914,219.41. The trade was a 0.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Asana Price Performance

Shares of NYSE:ASAN traded down $0.45 on Monday, hitting $13.71. The company’s stock had a trading volume of 5,107,399 shares, compared to its average volume of 2,695,517. The company has a market capitalization of $3.19 billion, a PE ratio of -12.24 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a 50-day simple moving average of $18.46 and a 200 day simple moving average of $17.08. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77.

Institutional Investors Weigh In On Asana

A number of institutional investors and hedge funds have recently bought and sold shares of ASAN. Arrowstreet Capital Limited Partnership purchased a new position in Asana in the 4th quarter worth approximately $38,966,000. Paradice Investment Management LLC bought a new stake in shares of Asana during the 4th quarter worth $22,507,000. Two Sigma Investments LP grew its position in Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company’s stock worth $28,481,000 after acquiring an additional 1,043,047 shares in the last quarter. Voya Investment Management LLC increased its stake in 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 acquiring an additional 937,726 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Asana during the fourth quarter valued at about $11,781,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ASAN shares. Robert W. Baird decreased their target price on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. UBS Group reduced their target price on shares of Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Piper Sandler dropped their price target 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. Scotiabank reduced their price objective on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 11th. Finally, 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 research report on Tuesday, March 11th. Two equities 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. Based on data from MarketBeat.com, the company 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.