Asana, Inc. (NYSE:ASAN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in Asana, Inc. (NYSE:ASAN) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,547 shares of the company’s stock after selling 4,458 shares during the quarter. Legal & General Group Plc’s holdings in Asana were worth $1,916,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Asana during the 4th quarter worth about $38,966,000. Geode Capital Management LLC raised its holdings in Asana by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after purchasing an additional 12,055 shares in the last quarter. Paradice Investment Management LLC purchased a new stake in shares of Asana during the 4th quarter worth approximately $22,507,000. JPMorgan Chase & Co. boosted its holdings in shares of 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 buying an additional 427,576 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of 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 buying an additional 11,896 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASAN has been the subject of several research analyst reports. JMP Securities set a $22.00 price objective on shares of Asana in a research note on Tuesday, March 11th. DA Davidson decreased their target price on Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Citigroup lifted their price target on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Bank of America decreased their price objective on Asana from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Finally, Scotiabank cut their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.53.

Insider Activity

In related news, CEO Dustin A. Moskovitz bought 225,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the acquisition, the chief executive officer now owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This represents a 0.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Justin Rosenstein sold 196,067 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $21.78, for a total value of $4,270,339.26. Following the sale, the director now directly owns 1,651,242 shares in the company, valued at $35,964,050.76. This trade represents a 10.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 2,074,507 shares of company stock valued at $30,025,743 and sold 589,842 shares valued at $12,154,003. Insiders own 63.97% of the company’s stock.

Asana Price Performance

Shares of NYSE:ASAN opened at $15.97 on Friday. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a 50-day moving average price of $16.17 and a 200 day moving average price of $17.34. The company has a market cap of $3.72 billion, a P/E ratio of -14.26 and a beta of 1.23. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17.

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.