$ASANA CEO BUY SHARES!
$Asana, Inc.(ASAN)$Asana Insider Makes $1.39 Million Stock Purchase.
Dustin Moskovitz, President, CEO And Chair at Asana (NYSE:ASAN), made a large insider buy on September 13, according to a new SEC filing.
What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Moskovitz purchased 13,915 shares of Asana at a price of $100.0 per share. The total transaction amounted to $1,391,500.
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Following the transaction, Moskovitz now owns 8,860,961 shares of the company, worth $986,092,044.
Asana shares are trading up 1.8% at $111.28 at the time of this writing on Thursday morning.
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The Importance of Insider Transactions
Here is the method that is helping new traders like you get great returns trading options.
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Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.
Important Transaction Codes
Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised up on being hired by the company.
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