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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz bought 225,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average cost of $14.41 per share, for a total transaction of $3,242,250.00. Following the completion of the transaction, the chief executive officer now directly owns 50,147,943 shares in the company, valued at approximately $722,631,858.63. The trade was a 0.45 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Asana Stock Up 5.1 %

Asana stock opened at $16.09 on Thursday. The stock’s 50 day moving average price is $18.69 and its 200 day moving average price is $17.02. Asana, Inc. has a 1-year low of $11.05 and a 1-year high of $27.77. The company has a market cap of $3.75 billion, a PE ratio of -14.37 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.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group cut their price target on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, March 11th. UBS Group decreased their price objective on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Robert W. Baird decreased their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Morgan Stanley dropped their price objective 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. 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 data from MarketBeat, Asana currently has an average rating of “Hold” and an average target price of $15.67.

Institutional Investors Weigh In On Asana

Several institutional investors have recently made changes to their positions in ASAN. Quarry LP purchased a new position in shares of Asana in the 4th quarter valued at about $29,000. Bogart Wealth LLC purchased a new stake in Asana during the fourth quarter worth about $61,000. SBI Securities Co. Ltd. acquired a new position in Asana during the fourth quarter worth about $82,000. KBC Group NV increased its holdings in Asana by 58.8% in the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after buying an additional 2,078 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Asana during the 4th 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.