Why Asana Shares Are Rising Today

Asana Inc ASAN is trading higher Monday after the company's CEO disclosed the purchase of 1.25 million shares of Asana stock.

Dustin Moskovitz, co-founder and CEO of Asana, has been buying up shares of his own software company over the last several months. The most recent purchase follows a buying spree in which the CEO accumulated more than $1 billion of Asana stock. 

The unprecedented buying spree has ramped up in 2022 as the stock continues to struggle to find support. Asana shares are trading significantly above the 2022 lows they set in January.

Asana is a software company providing a platform for work management that helps teams orchestrate anything from daily tasks to cross-functional strategic initiatives.

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ASAN Price Action: Asana has traded as low as $25.41 and as high as $145.78 over a 52-week period.

The stock was up 11.1% at $68.32 Monday afternoon.