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

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average price of $15.33 per share, with a total value of $3,449,250.00. Following the transaction, the chief executive officer now owns 49,473,436 shares of the company's stock, valued at $758,427,773.88. The trade was a 0.46 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Asana Price Performance

Shares of Asana stock traded down $0.32 on Monday, hitting $14.57. 3,235,253 shares of the company traded hands, compared to its average volume of 2,658,077. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The business has a 50-day simple moving average of $18.87 and a 200 day simple moving average of $17.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $3.39 billion, a P/E ratio of -13.00 and a beta of 1.13.

Institutional Trading of Asana

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Asana during the 4th quarter valued at about $29,000. Quest Partners LLC bought a new position in Asana during the third quarter valued at approximately $43,000. Bogart Wealth LLC purchased a new position in Asana during the 4th quarter valued at approximately $61,000. SBI Securities Co. Ltd. bought a new stake in Asana in the 4th quarter worth approximately $82,000. Finally, KBC Group NV raised its holdings in shares of Asana by 58.8% during the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after acquiring an additional 2,078 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research firms recently issued reports on ASAN. Piper Sandler dropped their price objective on shares of Asana from $27.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Bank of America dropped their price target on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Oppenheimer upped their price objective on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. KeyCorp upgraded Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 target price on the stock in a research report on Friday, December 6th. Finally, Robert W. Baird reduced their price target on Asana from $23.00 to $13.00 and set a "neutral" rating for the company 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 given a buy rating to the stock. According to MarketBeat.com, Asana presently has a consensus rating of "Hold" and an average 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.