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

Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction dated 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 acquisition, the chief executive officer now owns 50,822,943 shares of the company’s stock, valued at approximately $704,914,219.41. This trade represents a 0.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asana Stock Down 0.3 %

ASAN stock opened at $13.74 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $3.20 billion, a PE ratio of -12.26 and a beta of 1.23. Asana, Inc. has a 12 month low of $11.05 and a 12 month high of $27.77. The firm has a 50 day simple moving average of $18.01 and a 200 day simple moving average of $17.08.

Institutional Investors Weigh In On Asana

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after purchasing an additional 427,576 shares during the last quarter. XTX Topco Ltd acquired a new stake in Asana during the 3rd quarter worth about $538,000. Neo Ivy Capital Management boosted its holdings in shares of Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock worth $1,964,000 after buying an additional 112,038 shares during the period. Virtu Financial LLC purchased a new position in shares of Asana in the fourth quarter worth approximately $2,349,000. Finally, Meeder Asset Management Inc. increased its position in shares of Asana by 49.2% in the fourth quarter. Meeder Asset Management Inc. now owns 77,576 shares of the company’s stock worth $1,572,000 after acquiring an additional 25,564 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ASAN. Morgan Stanley decreased their target price on shares of Asana from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 11th. DA Davidson reduced their price target on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Robert W. Baird lowered their price target on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, UBS Group reduced their price objective on shares of Asana from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus price target of $15.67.

About Asana

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.