JPMorgan Chase & Co. Has $9.65 Million Position in Asana, Inc. (NYSE:ASAN)

JPMorgan Chase & Co. lifted its holdings in Asana, Inc. (NYSE:ASAN) by 105.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 832,598 shares of the company’s stock after buying an additional 427,576 shares during the period. JPMorgan Chase & Co.’s holdings in Asana were worth $9,650,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC lifted its position in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock worth $41,000 after buying an additional 2,220 shares in the last quarter. KBC Group NV raised its holdings in shares of Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC acquired a new stake in Asana during the third quarter valued at $43,000. Redwood Wealth Management Group LLC acquired a new stake in Asana during the second quarter valued at $65,000. Finally, Daiwa Securities Group Inc. grew its stake in Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Price Performance

NYSE ASAN opened at $18.86 on Tuesday. 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 has a market cap of $4.31 billion, a price-to-earnings ratio of -16.84 and a beta of 1.10. The business has a 50 day simple moving average of $18.64 and a 200 day simple moving average of $14.90. Asana, Inc. has a 52-week low of $11.05 and a 52-week high of $27.77.

Analyst Upgrades and Downgrades

ASAN has been the subject of several analyst reports. Oppenheimer lifted their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Scotiabank upped their price target on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Piper Sandler raised Asana from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $27.00 in a research note on Monday, January 6th. DA Davidson upped their target price on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group lifted their price target on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.27.

Insider Activity at Asana

In other Asana news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 63.97% of the stock is owned by insiders.

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.