JPMorgan Chase & Co. Sells 92,239 Shares of Asana, Inc. $ASAN

JPMorgan Chase & Co. trimmed its position in Asana, Inc. (NYSE:ASAN) by 13.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 571,369 shares of the company’s stock after selling 92,239 shares during the period. JPMorgan Chase & Co.’s holdings in Asana were worth $7,633,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in shares of Asana in the third quarter worth approximately $27,000. Jones Financial Companies Lllp increased its holdings in Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after buying an additional 1,427 shares during the last quarter. Farther Finance Advisors LLC raised its position in Asana by 119.7% in the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock worth $34,000 after acquiring an additional 1,391 shares during the period. Daiwa Securities Group Inc. raised its position in Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after acquiring an additional 1,706 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Asana during the 2nd quarter worth $90,000. Institutional investors own 26.21% of the company’s stock.

Insider Buying and Selling at Asana

In other news, CAO Veronica Sosa sold 6,479 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $6.65, for a total value of $43,085.35. Following the completion of the transaction, the chief accounting officer owned 73,722 shares of the company’s stock, valued at $490,251.30. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Katie Marie Colendich sold 7,304 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total value of $54,195.68. Following the completion of the transaction, the insider directly owned 108,214 shares of the company’s stock, valued at approximately $802,947.88. This trade represents a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 70,226 shares of company stock valued at $472,065 over the last ninety days. 61.28% of the stock is currently owned by company insiders.

Asana Price Performance

Shares of NYSE ASAN opened at $6.21 on Tuesday. The stock has a market cap of $1.48 billion, a PE ratio of -7.76 and a beta of 1.01. Asana, Inc. has a 1 year low of $5.87 and a 1 year high of $19.00. The firm has a fifty day moving average price of $8.01 and a 200-day moving average price of $11.61.

Asana (NYSE:ASAN) last released its earnings results on Monday, March 2nd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $205.57 million for the quarter, compared to analysts’ expectations of $205.13 million. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, research analysts expect that Asana, Inc. will post -1.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ASAN. Weiss Ratings restated a “sell (d-)” rating on shares of Asana in a research note on Monday, December 29th. Wall Street Zen upgraded Asana from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. KeyCorp cut their price target on Asana from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Robert W. Baird reduced their price target on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Finally, Morgan Stanley decreased their price objective on Asana from $14.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus price target of $12.46.

About Asana

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.