Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Purchases 50,000 Shares of Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 50,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were bought at an average cost of $15.84 per share, for a total transaction of $792,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,398,436 shares in the company, valued at $814,151,226.24. This trade represents a 0.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Asana Stock Performance

NYSE ASAN opened at $14.84 on Friday. 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 stock’s 50 day simple moving average is $17.00 and its 200-day simple moving average is $17.22. The company has a market cap of $3.46 billion, a PE ratio of -13.25 and a beta of 1.23. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JMP Securities set a $22.00 price target on Asana in a research report on Tuesday, March 11th. Piper Sandler decreased their target price on shares of Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. DA Davidson lowered their price target on shares of Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Scotiabank decreased 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 report on Tuesday, March 11th. Finally, 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 research report 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. Quarry LP purchased a new stake in shares of Asana during the fourth quarter worth $29,000. Bogart Wealth LLC acquired a new position in Asana during the fourth quarter worth about $61,000. SBI Securities Co. Ltd. purchased a new stake in Asana during the 4th quarter valued at about $82,000. KBC Group NV raised its holdings in Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after acquiring an additional 2,078 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in Asana in the 4th quarter worth approximately $135,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.