LPL Financial LLC Has $867,000 Stock Holdings in Asana, Inc. (NYSE:ASAN)

LPL Financial LLC boosted its stake in shares of Asana, Inc. (NYSE:ASAN) by 81.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 42,752 shares of the company’s stock after buying an additional 19,255 shares during the period. LPL Financial LLC’s holdings in Asana were worth $867,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ASAN. Bogart Wealth LLC acquired a new stake in shares of Asana during the fourth quarter worth $61,000. SBI Securities Co. Ltd. acquired a new position in shares of Asana during the fourth quarter worth about $82,000. KBC Group NV boosted its position in shares of Asana by 58.8% during 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 during the period. TruNorth Capital Management LLC bought a new position in shares of Asana during the fourth quarter worth about $163,000. Finally, Empirical Asset Management LLC acquired a new stake in Asana in the 4th quarter valued at approximately $218,000. Institutional investors own 26.21% of the company’s stock.

Insiders Place Their Bets

In other news, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 150,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the completion of the sale, the director now directly owns 2,047,309 shares of the company’s stock, valued at approximately $40,966,653.09. The trade was a 6.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,074,507 shares of company stock worth $30,025,743 and sold 739,842 shares worth $15,155,503. Company insiders own 63.97% of the company’s stock.

Analysts Set New Price Targets

ASAN has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, March 11th. Robert W. Baird decreased their price objective on Asana from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. DA Davidson dropped their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Piper Sandler decreased their price target on Asana from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Finally, Bank of America dropped their price objective on Asana from $30.00 to $25.00 and set a “buy” 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 assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Asana has an average rating of “Hold” and a consensus target price of $15.60.

Asana Stock Performance

Shares of ASAN stock opened at $14.36 on Tuesday. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -12.82 and a beta of 1.23. The company has a 50-day simple moving average of $16.68 and a 200 day simple moving average of $17.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

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.