Dustin A. Moskovitz Buys 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 Wednesday, March 19th. The stock was purchased at an average price of $14.34 per share, with a total value of $3,226,500.00. Following the transaction, the chief executive officer now directly owns 49,023,436 shares in the company, valued at $702,996,072.24. The trade was a 0.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Asana Price Performance

ASAN opened at $14.44 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. 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 $3.30 billion, a PE ratio of -12.89 and a beta of 1.13. The stock’s 50 day moving average price is $19.39 and its 200-day moving average price is $16.81.

Hedge Funds Weigh In On Asana

Several hedge funds have recently made changes to their positions in the business. Brooklyn FI LLC purchased a new position in shares of Asana during the fourth quarter valued at approximately $8,138,000. Vise Technologies Inc. boosted its position in shares of Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock valued at $320,000 after purchasing an additional 959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 valued at $4,582,000 after purchasing an additional 25,607 shares in the last quarter. Voloridge Investment Management LLC boosted its position in shares of Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock valued at $43,574,000 after purchasing an additional 438,057 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Asana during the fourth quarter valued at approximately $1,745,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ASAN. UBS Group dropped their target price on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a research report on Friday, December 6th. 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. Bank of America decreased their price target on Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Finally, KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Asana currently has an average rating of “Hold” and a consensus price target of $15.67.

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.