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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $13.87 per share, with a total value of $3,120,750.00. Following the transaction, the chief executive officer now owns 50,822,943 shares in the company, valued at approximately $704,914,219.41. The trade was a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Asana Trading Down 3.1 %

NYSE ASAN traded down $0.45 during trading hours on Monday, reaching $13.71. The company’s stock had a trading volume of 5,107,399 shares, compared to its average volume of 2,695,517. The firm has a fifty day simple moving average of $18.46 and a 200-day simple moving average of $17.08. The stock has a market cap of $3.19 billion, a P/E ratio of -12.24 and a beta of 1.23. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49.

Wall Street Analyst Weigh In

ASAN has been the subject of several recent research reports. Citigroup increased their price target on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. JMP Securities set a $22.00 price objective on shares of Asana in a research report on Tuesday, March 11th. UBS Group reduced their price target on Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Bank of America decreased their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group decreased 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. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASAN. GAMMA Investing LLC lifted its holdings in Asana by 5,815.7% in the first quarter. GAMMA Investing LLC now owns 9,820 shares of the company’s stock valued at $1,430,000 after buying an additional 9,654 shares during the period. Brooklyn FI LLC acquired a new position in shares of Asana during the fourth quarter valued at about $8,138,000. Vise Technologies Inc. raised its stake in Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after buying an additional 959 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $4,582,000 after purchasing an additional 25,607 shares during the period. Finally, Voloridge Investment Management LLC raised its holdings in Asana by 25.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after buying an additional 438,057 shares during the last quarter. 26.21% of the stock is owned by 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.