Facebook co-founder Dustin A. Moskovitz who is now the Director of Asana, Inc. ( ASAN ) , has increased his stake in the company by acquiring 225,000 shares.

What Happened: The shares were purchased on Wednesday, July 23rd at an average price of $15.04 per share, amounting to a total investment of $3,384,000.00.

Following this transaction, Moskovitz’s total holdings in Asana now stand at 54,405,999 shares, valued at approximately $818,266,224.96.

This acquisition signifies a 0.42% increase in Moskovitz’s ownership of Asana’s stock. The transaction details were disclosed in a legal filing with the SEC, which is accessible on the SEC website.

As per Benzinga Insider, Asana’s shares experienced a slight dip on Friday, trading down $0.05 to reach $14.90. The company’s current ratio stands at 1.47, with a quick ratio of 1.47 and a debt-to-equity ratio of 0.16.

The firm’s 50-day moving average is $15.04, while its 200-day moving average is $16.85.

Also Read: Asana Reports Q1 Earnings: Earnings, Revenues Beat 

Asana’s most recent quarterly earnings results, released on Tuesday, June 3rd, reported $0.05 earnings per share (EPS) for the quarter, surpassing analysts’ consensus estimates of $0.02 by $0.03.

The firm’s revenue for the quarter was $187.63 million, slightly above the consensus estimate of $185.40 million.

This move by Moskovitz, a key figure in the company, could be seen as a vote of confidence in Asana’s future prospects. It comes at a time when institutional investors have been actively trading the company’s shares.

For instance, Blue Trust Inc. increased its holdings in Asana by 13.7% during the second quarter. Other investors who have recently traded Asana’s shares include 111 Capital, GC Wealth Management RIA LLC, Catalyst Private Wealth LLC, and Harbor Capital Advisors Inc.

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