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Here's Why Asana Stock Shot Higher on Monday

·2 min read
Here's Why Asana Stock Shot Higher on Monday
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Shares of Asana (NYSE: ASAN) surged as much as 9.7% higher Monday, though the stock closed out the trading session up by only 3.9%. Jefferies Financial Group analyst Brent Thill raised the investment bank's price target on Asana to $115 from $90 this week while maintaining a buy rating on the stock, according to a report by The Fly. In his note to clients, Thill pointed out that CEO and co-founder Dustin Moskovitz had purchased an additional 750,000 shares of Asana stock last week, bringing his total purchases over the past three months to $217 million or 3.6 million shares.