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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz acquired 225,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $13.87 per share, for a total transaction of $3,120,750.00. Following the completion of the transaction, the chief executive officer now directly owns 50,822,943 shares of the company’s stock, valued at $704,914,219.41. This trade represents a 0.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Asana Trading Down 0.3 %

Shares of NYSE ASAN opened at $13.74 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $18.01 and its two-hundred day moving average price is $17.08. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77. The stock has a market capitalization of $3.20 billion, a P/E ratio of -12.26 and a beta of 1.23.

Hedge Funds Weigh In On Asana

Several large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Asana during the fourth quarter valued at $29,000. Bogart Wealth LLC acquired a new position in shares of Asana in the 4th quarter valued at about $61,000. SBI Securities Co. Ltd. bought a new stake in shares of Asana during the 4th quarter valued at about $82,000. KBC Group NV raised its stake in Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after acquiring an additional 2,078 shares during the period. Finally, State of Tennessee Department of Treasury bought a new position in Asana in the fourth quarter worth about $135,000. 26.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group lowered their target price on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered 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. UBS Group reduced their target price on shares of Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird lowered their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 price objective on shares of Asana in a report on Tuesday, March 11th. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.