Asana, Inc. (NYSE:ASAN) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in Asana, Inc. (NYSE:ASAN) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,399 shares of the company’s stock after selling 3,049 shares during the quarter. Corebridge Financial Inc.’s holdings in Asana were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Asana by 81.9% during the fourth quarter. LPL Financial LLC now owns 42,752 shares of the company’s stock worth $867,000 after buying an additional 19,255 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Asana in the 4th quarter worth approximately $371,000. Sei Investments Co. acquired a new position in Asana in the 4th quarter valued at $585,000. Virtu Financial LLC purchased a new position in shares of Asana during the 4th quarter worth $2,349,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Asana during the 4th quarter worth $1,310,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Asana

In other Asana news, Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction that occurred 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 transaction, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dustin A. Moskovitz acquired 225,000 shares of Asana stock in a transaction dated Monday, March 17th. The shares were bought at an average cost of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the purchase, the chief executive officer now owns 48,573,436 shares in the company, valued at approximately $680,999,572.72. This represents a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,349,507 shares of company stock valued at $19,281,993 and sold 739,842 shares valued at $15,155,503. Company insiders own 63.97% of the company’s stock.

Asana Trading Down 2.6 %

Shares of NYSE:ASAN opened at $14.16 on Friday. The company has a 50 day moving average of $18.46 and a 200-day moving average of $17.05. 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 firm has a market cap of $3.30 billion, a P/E ratio of -12.64 and a beta of 1.23. Asana, Inc. has a twelve month low of $11.05 and a twelve month high of $27.77.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ASAN shares. Piper Sandler decreased their price target on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Jefferies Financial Group dropped their price target on shares of Asana from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Bank of America cut their price target on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. Finally, Scotiabank dropped their price target on Asana from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.67.

Asana Company 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.