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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average cost of $15.33 per share, with a total value of $3,449,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 49,473,436 shares of the company’s stock, valued at $758,427,773.88. The trade was a 0.46 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Asana Stock Performance

Shares of NYSE:ASAN opened at $14.87 on Friday. The firm’s 50 day simple moving average is $18.97 and its 200 day simple moving average is $16.90. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -13.27 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Institutional Investors Weigh In On Asana

Several large investors have recently bought and sold shares of ASAN. Brooklyn FI LLC bought a new position in shares of Asana during the fourth quarter worth $8,138,000. Vise Technologies Inc. raised its stake in Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after buying an additional 959 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Asana by 12.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,025 shares of the company’s stock worth $4,582,000 after acquiring an additional 25,607 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after acquiring an additional 438,057 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in Asana in the fourth quarter valued at about $1,745,000. Institutional investors own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of research analyst reports. Oppenheimer boosted their target price 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. JPMorgan Chase & Co. dropped their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Tuesday, March 11th. DA Davidson reduced their price objective 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 target price on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group decreased their price target on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Asana has an average rating of “Hold” and an average price target of $15.67.

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.