Asana Inc. (ASAN) gets rating Downgrade from DA Davidson


Asana Inc.’s recently made public that its President, CEO, & Chair Moskovitz Dustin A. acquired Company’s shares for reported $1.74 million on Aug 31. In the deal valued at $21.76 per share,80,000 shares were bought. As a result of this transaction, Moskovitz Dustin A. now holds 42,362,802 shares worth roughly $ 916.31 million.

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Then, Moskovitz Dustin A. bought 80,000 shares, generating $1,717,600 in total proceeds. Upon buying the shares at $21.47, the President, CEO, & Chair now owns 42,282,802 shares.

Before that, Moskovitz Dustin A. bought 80,000 shares. Asana Inc. shares valued at $1,744,000 were divested by the President, CEO, & Chair at a price of $21.80 per share. As a result of the transaction, Moskovitz Dustin A. now holds 42,202,802 shares, worth roughly $912.85 million.

DA Davidson downgraded its Asana Inc. [ASAN] rating to a Neutral from a a Buy in a research note published on Friday. PT values the company’s stock at a premium of -3.0 to its Friday closing price.

Price Performance Review of ASAN

On Friday, Asana Inc. [NYSE:ASAN] saw its stock jump 0.65% to $21.63. On the same session, the stock had its day’s lowest price of $21.57, but rose to a high of $22.04. Over the last five days, the stock has gained 0.14%. Asana Inc. shares have risen nearly 57.08% since the year began. Nevertheless, the stocks have risen 12.95% over the past one year. While a 52-week high of $28.92 was reached on 06/16/23, a 52-week low of $11.32 was recorded on 01/06/23. SMA at 50 days reached $21.97, while 200 days put it at $18.70. A total of 1.66 million shares were traded, compared to the trading of 2.6 million shares in the previous session.

Levels Of Support And Resistance For ASAN Stock

The 24-hour chart illustrates a support level at 21.45, which if violated will result in even more drops to 21.28. On the upside, there is a resistance level at 21.92. A further resistance level may holdings at 22.22. The Relative Strength Index (RSI) on the 14-day chart is 50.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.50%. Stochastics %K at 67.29% indicates the stock is a holding.

How much short interest is there in Asana Inc.?

A steep rise in short interest was recorded in Asana Inc. stocks on Aug 14, 2023, dropping by -0.96 million shares to a total of 8.93 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 9.89 million shares. There was a decline of -10.75%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 11.10% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.7.

Asana Inc. [ASAN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 8,557,290 shares, or roughly 6.52% of the outstanding ASAN shares. In other words, the investor’s shares have risen by 1,121,144 from its previous 13-F filing of 7436146.0. Additionally, Champlain Investment Partners LLC decreased -1.81% of its stake after which the total value it holdings stand at $156,529,494, while BlackRock Fund Advisors added 6.79% of its stake to hold $130.25 million in the firm. Over the last quarter, D. E. Shaw & Co. LP sold -466,467 shares of Asana Inc., while SSgA Funds Management, Inc. sold 163,281 shares. At present, Jane Street Capital LLC is holding 1,684,432 shares valued at $40.9 million. Geode Capital Management LLC owned 1,514,970 shares of the company at the time of its most recent 13F filing, worth $36.78 million.

According to FactSet, Asana Inc.’s share price will average $23.69 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.68 percent from its previous closing price of $21.49. Analysts expect Asana Inc. stock to reach the higher price of $32.00, while the lowest price estimate is $10.00. However, 15 analysts have rated ASAN stock as a Hold in their predictions for 2023.


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