Charles Schwab Investment Management Inc. Grows Stake in Asana, Inc. (NYSE:ASAN)

Charles Schwab Investment Management Inc. boosted its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 694,792 shares of the company's stock after buying an additional 48,831 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.30% of Asana worth $14,083,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Asana during the fourth quarter valued at $82,000. Versor Investments LP bought a new stake in shares of Asana in the 4th quarter valued at $389,000. TruNorth Capital Management LLC acquired a new position in shares of Asana during the 4th quarter valued at $163,000. Bank of New York Mellon Corp boosted its stake in Asana by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company's stock worth $16,331,000 after acquiring an additional 11,896 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Asana by 19.0% in the fourth quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company's stock worth $369,000 after purchasing an additional 2,900 shares during the period. Institutional investors own 26.21% of the company's stock.

Analyst Upgrades and Downgrades

ASAN has been the topic of several research reports. Bank of America dropped their price objective on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Scotiabank lowered their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Royal Bank of Canada reiterated an "underperform" rating and issued a $10.00 target price on shares of Asana in a research note on Friday, December 6th. JPMorgan Chase & Co. reduced their price objective on shares of Asana from $15.00 to $13.00 and set an "underweight" rating for the company in a research report on Tuesday, March 11th. Finally, Piper Sandler dropped their target price on shares of Asana from $27.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.67.

Remove Ads

Insider Activity at Asana

In other news, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the completion of the transaction, the chief executive officer now directly owns 48,123,436 shares of the company's stock, valued at approximately $621,273,558.76. This trade represents a 0.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Justin Rosenstein sold 150,000 shares of the company's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the sale, the director now directly owns 2,047,309 shares of the company's stock, valued at approximately $40,966,653.09. This represents a 6.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 675,000 shares of company stock valued at $9,285,750 and sold 721,067 shares valued at $14,892,089. 63.97% of the stock is owned by corporate insiders.

Asana Price Performance

NYSE:ASAN traded up $0.62 during mid-day trading on Monday, hitting $15.07. 2,626,136 shares of the stock traded hands, compared to its average volume of 2,578,227. The business's 50-day moving average price is $19.39 and its 200 day moving average price is $16.86. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The company has a market cap of $3.45 billion, a PE ratio of -13.45 and a beta of 1.13.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.