Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Asana Inc. shares valued at $1,828,311 were purchased by Moskovitz Dustin A. on Jun 09. At $22.85 per share, Moskovitz Dustin A. acquired 80,000 shares. The insider’s holdings grew to 39,272,803 shares worth approximately $983.0 million following the completion of this transaction.
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Also, Moskovitz Dustin A. purchased 80,000 shares, netting a total of over 1,795,200 in proceeds. Following the buying of shares at $22.44 each, the insider now holds 39,192,803 shares.
Before that, Wan Tim M had sold 3,336 shares from its account. In a trade valued at $69,583, the Chief Financial Officer traded Asana Inc. shares for $20.86 each. Upon closing the transaction, the insider’s holdings decreased to 3,336 shares, worth approximately $15.11 million.
As published in a research note from DA Davidson on June 02, 2023, Asana Inc. [ASAN] has been rated down from a Buy to a Neutral and the price target has been revised to $21. This represents a -19.19% premium over Thursday’s closing price.
Analyzing ASAN Stock Performance
On Thursday, Asana Inc. [NYSE: ASAN] rose 1.46% to $25.03. The stock’s lowest price that day was $24.12, but it reached a high of $25.06 in the same session. During the last five days, there has been a surge of approximately 11.10%. Over the course of the year, Asana Inc. shares have jumped approximately 81.77%. Shares of the company reached a 52-week high of $25.53 on 06/02/23 and a 52-week low of $11.32 on 01/06/23. A 50-day SMA is recorded $19.48, while a 200-day SMA reached $18.49. Nevertheless, trading volume fell to 2.54 million shares from 2.76 million shares the previous day.
Support And Resistance Levels for Asana Inc. (ASAN)
According to the 24-hour chart, there is a support level at 24.41, which, if violated, would cause prices to drop to 23.80. In the upper region, resistance lies at 25.35. The next price resistance is at 25.68. RSI (Relative Strength Index) is 71.60 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.86, which suggests the price will increase in the coming days. Percent R is at 10.46%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Asana Inc. subject to short interest?
Stocks of Asana Inc. saw a sharp rise in short interest on May 30, 2023 jumping by 0.7 million shares to 11.85 million. Data from Yahoo Finance shows that the short interest on Apr 27, 2023 was 11.15 million shares. A jump of 5.91% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.92 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.92.
Which companies own the most shares of Asana Inc. (ASAN)?
According to The Vanguard Group, Inc. filings, the company currently owns 7,436,146 shares, which is about 5.77% of the total ASAN shares outstanding. The investor’s shares have appreciated by 605,404 from its previous 13-F filing of 6830742.0 shares. With the completion of the sale transaction, Champlain Investment Partners LLC’s stake is now worth $106,237,945. BlackRock Fund Advisors acquire a 3.37% interest valued at $81.28 million while D. E. Shaw & Co. LP purchased a 2,951,841 stake. A total of 156,084 shares of Asana Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 1,328,050 were bought by Two Sigma Investments LP. In its current portfolio, Renaissance Technologies LLC holds 1,493,500 shares valued at $24.16 million.
In terms of Asana Inc. share price expectations, FactSet research, analysts set an average price target of $23.14 in the next 12 months, down nearly -4.74% from the previous closing price of $24.67. Analysts anticipate Asana Inc. stock to reach $32.00 by 2023, with the lowest price target being $10.00. In spite of this, 16 analysts ranked Asana Inc. stock as a Hold at the end of 2023.