LPL Financial LLC Acquires 19,255 Shares of Asana, Inc. (NYSE:ASAN)

LPL Financial LLC lifted its holdings in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 81.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,752 shares of the company's stock after acquiring an additional 19,255 shares during the period. LPL Financial LLC's holdings in Asana were worth $867,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in Asana by 103.0% during the 3rd quarter. Barclays PLC now owns 165,753 shares of the company's stock worth $1,920,000 after acquiring an additional 84,114 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company's stock valued at $21,605,000 after purchasing an additional 12,055 shares during the period. JPMorgan Chase & Co. increased its position in Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company's stock worth $9,650,000 after buying an additional 427,576 shares during the period. Friedenthal Financial purchased a new stake in Asana in the fourth quarter valued at approximately $762,000. Finally, Empirical Asset Management LLC purchased a new stake in shares of Asana in the fourth quarter valued at about $218,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 18,775 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the sale, the chief operating officer now owns 716,580 shares of the company's stock, valued at approximately $10,053,617.40. This represents a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 25,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the director now directly owns 922,309 shares in the company, valued at approximately $11,888,563.01. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 2,074,507 shares of company stock valued at $30,025,743 and have sold 589,842 shares valued at $12,154,003. Insiders own 63.97% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on ASAN. Citigroup raised their price objective on shares of Asana from $16.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Piper Sandler decreased their price objective on shares of Asana from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday. Scotiabank decreased their target price on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research report on Tuesday, March 11th. Bank of America decreased their target price on Asana from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Finally, DA Davidson decreased their price objective on Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $15.53.

Asana Stock Up 0.0 %

NYSE ASAN traded up $0.00 during mid-day trading on Friday, hitting $15.98. The company's stock had a trading volume of 1,469,376 shares, compared to its average volume of 2,737,996. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company's 50 day simple moving average is $16.17 and its 200 day simple moving average is $17.34. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -14.28 and a beta of 1.23.

Asana 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.