Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $14.02 per share, for a total transaction of $3,154,500.00. Following the completion of the acquisition, the chief executive officer now owns 48,573,436 shares in the company, valued at $680,999,572.72. This trade represents a 0.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Asana Stock Up 3.3 %
NYSE ASAN traded up $0.46 on Friday, hitting $14.46. 2,161,641 shares of the stock were exchanged, compared to its average volume of 2,565,334. Asana, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $27.77. The company has a 50-day moving average price of $19.49 and a 200-day moving average price of $16.81. 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 company has a market cap of $3.31 billion, a PE ratio of -12.91 and a beta of 1.13.
Hedge Funds Weigh In On Asana
Several large investors have recently bought and sold shares of ASAN. Brooklyn FI LLC acquired a new position in shares of Asana during the 4th quarter worth about $8,138,000. Vise Technologies Inc. lifted its stake in Asana by 6.5% during the fourth quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after purchasing an additional 959 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Asana by 12.8% in 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 holdings in Asana by 25.6% in 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 purchased a new position in Asana in the fourth quarter valued at approximately $1,745,000. Hedge funds and other institutional investors own 26.21% of the company's stock.
Analyst Ratings Changes
ASAN has been the topic of several recent analyst reports. Bank of America decreased their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Morgan Stanley lowered their price target on Asana from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Robert W. Baird cut their price objective on Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Piper Sandler decreased their target price on Asana from $27.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Finally, DA Davidson dropped their target price on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Asana currently has an average rating of "Hold" and an average price target of $15.67.
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About Asana
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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.
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