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

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

Asana Trading Down 3.1 %

ASAN opened at $13.71 on Tuesday. The stock has a 50-day moving average of $18.33 and a 200 day moving average of $17.09. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The firm has a market cap of $3.19 billion, a P/E ratio of -12.24 and a beta of 1.23.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASAN. Piper Sandler dropped their target price on shares of Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Jefferies Financial Group cut their target price on Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Bank of America decreased their target price on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird dropped their price target on 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 reduced 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 report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.67.

Hedge Funds Weigh In On Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. Quarry LP bought a new stake in Asana in the fourth quarter worth $29,000. Bogart Wealth LLC bought a new stake in shares of Asana in the 4th quarter worth about $61,000. SBI Securities Co. Ltd. bought a new stake in shares of Asana in the 4th quarter worth about $82,000. KBC Group NV grew its holdings in Asana by 58.8% during the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock valued at $114,000 after purchasing an additional 2,078 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in Asana in the 4th quarter worth about $135,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.