Insider Buying: Asana, Inc. (NYSE:ASAN) CEO Buys 225,000 Shares of Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 225,000 shares of Asana stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the purchase, the chief executive officer now owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. The trade was a 0.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Asana Stock Performance

Shares of ASAN traded up $0.46 during midday trading on Friday, hitting $14.46. 2,161,641 shares of the stock traded hands, compared to its average volume of 2,565,334. The business's 50 day moving average price is $19.49 and its two-hundred day moving average price is $16.81. The firm has a market capitalization of $3.31 billion, a PE ratio of -12.91 and a beta of 1.13. 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 1-year low of $11.05 and a 1-year high of $27.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC boosted its position in shares of Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after buying an additional 937,726 shares during the period. Voloridge Investment Management LLC boosted its position in Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after acquiring an additional 438,057 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Asana during the 4th quarter worth $38,966,000. Geode Capital Management LLC grew its stake in shares of Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company's stock worth $21,605,000 after purchasing an additional 12,055 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Asana by 17.6% during the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company's stock valued at $35,350,000 after purchasing an additional 261,298 shares during the period. Institutional investors own 26.21% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Oppenheimer increased their price objective on shares of Asana from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Morgan Stanley reduced their price target 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. Scotiabank lowered their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an "underweight" rating on the stock in a report on Tuesday, March 11th. Finally, KeyCorp upgraded Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 price target for the company in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.