Charles Schwab Investment Management Inc. Increases Stock Position in Asana, Inc. (NYSE:ASAN)

Charles Schwab Investment Management Inc. raised its holdings in Asana, Inc. (NYSE:ASAN) by 7.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 694,792 shares of the company’s stock after purchasing an additional 48,831 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Asana were worth $14,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in 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 in the last quarter. Paradice Investment Management LLC purchased a new stake in Asana in the 4th quarter valued at approximately $22,507,000. JPMorgan Chase & Co. boosted its holdings in Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after purchasing an additional 427,576 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Asana by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 805,649 shares of the company’s stock valued at $16,331,000 after purchasing an additional 11,896 shares in the last quarter. Finally, Holocene Advisors LP boosted its holdings in Asana by 62.2% in the 3rd quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock valued at $3,537,000 after purchasing an additional 116,998 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Price Performance

ASAN stock opened at $14.00 on Friday. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50 day moving average price is $19.49 and its 200 day moving average price is $16.81. The firm has a market cap of $3.20 billion, a P/E ratio of -12.50 and a beta of 1.13.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Morgan Stanley decreased their price target on Asana from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Oppenheimer boosted their price target on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. KeyCorp raised 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. Finally, JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Asana currently has an average rating of “Hold” and a consensus target price of $15.67.

Insider Activity at Asana

In other Asana news, CEO Dustin A. Moskovitz purchased 225,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was bought at an average cost of $14.34 per share, for a total transaction of $3,226,500.00. Following the acquisition, the chief executive officer now owns 49,023,436 shares of the company’s stock, valued at approximately $702,996,072.24. The trade was a 0.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $322,250.00. Following the completion of the transaction, the director now owns 922,309 shares of the company’s stock, valued at $11,888,563.01. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 675,000 shares of company stock valued at $9,285,750 and have sold 721,067 shares valued at $14,892,089. 63.97% of the stock is owned by corporate insiders.

About Asana

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.