Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Buys 224,507 Shares of Stock

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 224,507 shares of the stock in a transaction on Friday, March 28th. The shares were purchased at an average cost of $14.72 per share, with a total value of $3,304,743.04. Following the transaction, the chief executive officer now directly owns 49,922,943 shares of the company’s stock, valued at approximately $734,865,720.96. This trade represents a 0.45 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Asana Stock Up 4.8 %

Shares of ASAN stock traded up $0.71 on Tuesday, hitting $15.28. The stock had a trading volume of 2,383,599 shares, compared to its average volume of 2,657,005. The business has a 50 day moving average price of $18.87 and a 200 day moving average price of $17.00. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The company has a market cap of $3.56 billion, a PE ratio of -13.64 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, March 11th. Morgan Stanley lowered their target price on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Oppenheimer increased their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 6th. DA Davidson decreased their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 price objective on shares of Asana in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in Asana during the fourth quarter valued at about $29,000. Bogart Wealth LLC purchased a new position in shares of Asana in the 4th quarter worth approximately $61,000. SBI Securities Co. Ltd. bought a new position in shares of Asana during the 4th quarter worth approximately $82,000. KBC Group NV lifted its position in Asana by 58.8% during the fourth 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 acquired a new stake in Asana in the fourth quarter valued at approximately $135,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.