Asana, Inc. (NYSE:ASAN) CEO Acquires $3,154,500.00 in Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were acquired at an average cost of $14.02 per share, for a total transaction of $3,154,500.00. Following the completion of the acquisition, the chief executive officer now owns 48,573,436 shares of the company’s stock, valued at approximately $680,999,572.72. This trade represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Asana Trading Up 1.1 %

ASAN opened at $14.03 on Tuesday. The firm has a market cap of $3.21 billion, a P/E ratio of -12.52 and a beta of 1.13. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $19.83 and a 200 day moving average of $16.84.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after buying an additional 427,576 shares during the period. XTX Topco Ltd purchased a new position in shares of Asana during the third quarter valued at approximately $538,000. Neo Ivy Capital Management boosted its position in shares of Asana by 195.1% during the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after buying an additional 112,038 shares during the period. Friedenthal Financial purchased a new position in shares of Asana during the fourth quarter valued at approximately $762,000. Finally, Intech Investment Management LLC purchased a new position in shares of Asana during the third quarter valued at approximately $456,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ASAN. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 price target on shares of Asana in a report on Friday, December 6th. DA Davidson cut their price objective on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Oppenheimer raised their price objective on Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Bank of America cut their price objective on Asana from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.87.

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.