JPMorgan Chase & Co. trimmed its position in Asana, Inc. (NYSE:ASAN - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,221 shares of the company's stock after selling 71,377 shares during the period. JPMorgan Chase & Co. owned approximately 0.33% of Asana worth $15,430,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC acquired a new position in shares of Asana during the fourth quarter worth about $61,000. SBI Securities Co. Ltd. acquired a new position in Asana during the 4th quarter worth approximately $82,000. KBC Group NV raised its stake in shares of Asana by 58.8% during the 4th quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after buying an additional 2,078 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Asana in the 4th quarter valued at approximately $163,000. Finally, Empirical Asset Management LLC purchased a new stake in shares of Asana in the fourth quarter valued at approximately $218,000. 26.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Citigroup raised their target price on Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, January 16th. Robert W. Baird lowered their target price on shares of Asana from $23.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. DA Davidson reduced their price target on shares of Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Piper Sandler lowered their price target on Asana from $27.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Finally, Scotiabank reduced their price objective on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.60.
Check Out Our Latest Report on ASAN
Insider Transactions at Asana
In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $12.91 per share, for a total transaction of $2,904,750.00. Following the acquisition, the chief executive officer now directly owns 48,123,436 shares in the company, valued at $621,273,558.76. This trade represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now owns 716,580 shares in the company, valued at $10,053,617.40. The trade was a 2.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 2,024,507 shares of company stock worth $29,233,743 and have sold 739,842 shares worth $15,155,503. Insiders own 63.97% of the company's stock.
Asana Trading Down 5.3 %
Shares of ASAN traded down $0.83 on Wednesday, hitting $14.86. 858,187 shares of the stock traded hands, compared to its average volume of 2,735,055. The firm has a market capitalization of $3.46 billion, a P/E ratio of -13.27 and a beta of 1.23. 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 1 year low of $11.05 and a 1 year high of $27.77. The stock's 50 day moving average is $17.31 and its two-hundred day moving average is $17.21.
About Asana
(
Free Report)
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.
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