Asana, Inc. (NYSE:ASAN) CEO Acquires $3,242,250.00 in Stock

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz purchased 225,000 shares of the firm's stock in a transaction on Monday, March 31st. The stock was bought at an average price of $14.41 per share, for a total transaction of $3,242,250.00. Following the acquisition, the chief executive officer now owns 50,147,943 shares in the company, valued at $722,631,858.63. The trade was a 0.45 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Asana Stock Down 2.6 %

Shares of NYSE ASAN traded down $0.37 during midday trading on Friday, reaching $14.16. 3,505,667 shares of the company's stock were exchanged, compared to its average volume of 2,685,862. The stock has a market capitalization of $3.30 billion, a PE ratio of -12.64 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 quick ratio of 1.49 and a current ratio of 1.49. The business's fifty day moving average price is $18.46 and its two-hundred day moving average price is $17.05.

Wall Street Analysts Forecast Growth

ASAN has been the topic of a number of research analyst reports. Scotiabank reduced their target price on Asana from $18.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, March 11th. Bank of America reduced their price objective on Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. decreased their target price on Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a report on Tuesday, March 11th. Piper Sandler cut their price target 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. Finally, Citigroup boosted their price objective on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Asana has an average rating of "Hold" and an average target price of $15.67.

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Hedge Funds Weigh In On Asana

Institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Asana during the fourth quarter worth approximately $38,966,000. Paradice Investment Management LLC acquired a new position in Asana during the 4th quarter worth $22,507,000. Two Sigma Investments LP increased its position in shares of Asana by 288.1% in the 4th quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock worth $28,481,000 after purchasing an additional 1,043,047 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Asana by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock valued at $254,166,000 after purchasing an additional 937,726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Asana during the fourth quarter worth about $11,781,000. 26.21% of the stock is owned by institutional investors and hedge funds.

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.