Asana, Inc. (NYSE:ASAN) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in Asana, Inc. (NYSE:ASAN) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 694,792 shares of the company’s stock after acquiring an additional 48,831 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.30% of Asana worth $14,083,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after acquiring an additional 12,055 shares in the last quarter. Paradice Investment Management LLC acquired a new stake in shares of Asana in the fourth quarter valued at $22,507,000. JPMorgan Chase & Co. raised its stake in shares of Asana by 105.6% in the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Asana by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company’s stock valued at $16,331,000 after acquiring an additional 11,896 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after acquiring an additional 116,998 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on ASAN shares. Morgan Stanley dropped their target price on Asana from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a research note on Friday, December 6th. UBS Group cut their price target on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 price target on shares of Asana in a research note on Friday, December 6th. Finally, Jefferies Financial Group cut their price target on Asana from $19.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. Two 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. Based on data from MarketBeat, Asana currently has a consensus rating of “Hold” and an average price target of $15.67.

Insider Transactions at Asana

In related news, Director Justin Rosenstein sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the director now owns 922,309 shares in the company, valued at $11,888,563.01. The trade was a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of $14.34 per share, for a total transaction of $3,226,500.00. Following the transaction, the chief executive officer now directly owns 49,023,436 shares in the company, valued at $702,996,072.24. This trade represents a 0.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 675,000 shares of company stock worth $9,285,750 and have sold 721,067 shares worth $14,892,089. Insiders own 63.97% of the company’s stock.

Asana Stock Down 1.9 %

ASAN opened at $14.00 on Friday. The business’s 50-day simple moving average is $19.49 and its 200-day simple moving average is $16.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a one year low of $11.05 and a one year high of $27.77. The stock has a market capitalization of $3.20 billion, a P/E ratio of -12.50 and a beta of 1.13.

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.