JPMorgan Chase & Co. Trims Stake in Asana, Inc. (NYSE:ASAN)

JPMorgan Chase & Co. lessened its stake in shares of Asana, Inc. (NYSE:ASAN - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 761,221 shares of the company's stock after selling 71,377 shares during the period. JPMorgan Chase & Co. owned 0.33% of Asana worth $15,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ASAN. KBC Group NV lifted its stake in shares of Asana by 58.8% in the fourth 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. Handelsbanken Fonder AB lifted its stake in Asana by 19.0% in the 4th quarter. Handelsbanken Fonder AB now owns 18,200 shares of the company's stock worth $369,000 after purchasing an additional 2,900 shares in the last quarter. Bogart Wealth LLC acquired a new position in shares of Asana during the 4th quarter worth approximately $61,000. New York State Common Retirement Fund boosted its holdings in shares of Asana by 13.6% during the 4th quarter. New York State Common Retirement Fund now owns 25,300 shares of the company's stock worth $513,000 after purchasing an additional 3,038 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Asana by 29.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,473 shares of the company's stock valued at $278,000 after purchasing an additional 3,083 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Asana

In other news, COO Anne Raimondi sold 18,775 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the sale, the chief operating officer now owns 716,580 shares of the company's stock, valued at approximately $10,053,617.40. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average price of $15.64 per share, with a total value of $3,519,000.00. Following the purchase, the chief executive officer now owns 51,272,943 shares of the company's stock, valued at $801,908,828.52. The trade was a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,024,507 shares of company stock valued at $29,233,743 and have sold 739,842 shares valued at $15,155,503. Insiders own 63.97% of the company's stock.

Asana Stock Down 1.3 %

Shares of ASAN stock traded down $0.19 during trading hours on Thursday, reaching $14.85. 296,542 shares of the stock were exchanged, compared to its average volume of 2,730,447. Asana, Inc. has a 12-month low of $11.05 and a 12-month high of $27.77. The business's fifty day moving average is $17.17 and its two-hundred day moving average is $17.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $3.46 billion, a P/E ratio of -13.33 and a beta of 1.23.

Analyst Ratings Changes

Several brokerages have issued reports on ASAN. DA Davidson dropped their target price on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. UBS Group dropped their price target on shares of Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group reduced their price target on shares of Asana from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Piper Sandler lowered their price objective on Asana from $27.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Finally, JMP Securities set a $22.00 target price on Asana in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $15.60.

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.