Empowered Funds LLC Makes New Investment in Asana, Inc. (NYSE:ASAN)

Empowered Funds LLC bought a new stake in Asana, Inc. (NYSE:ASAN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,060 shares of the company's stock, valued at approximately $366,000.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 427,576 shares during the last quarter. XTX Topco Ltd purchased a new position in Asana during the third quarter worth $538,000. Neo Ivy Capital Management raised its stake in shares of Asana by 195.1% in the third quarter. Neo Ivy Capital Management now owns 169,454 shares of the company's stock valued at $1,964,000 after acquiring an additional 112,038 shares during the period. Friedenthal Financial purchased a new position in shares of Asana during the 4th quarter worth about $762,000. Finally, Intech Investment Management LLC bought a new position in Asana during the 3rd quarter valued at about $456,000. Institutional investors own 26.21% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Asana from $13.00 to $15.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Royal Bank of Canada restated an "underperform" rating and set a $10.00 price objective on shares of Asana in a report on Friday, December 6th. Scotiabank upped their price objective on Asana from $15.00 to $18.00 and gave the company a "sector perform" rating in a research report on Friday, December 6th. Oppenheimer lifted their target price on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, DA Davidson boosted their target price on shares of Asana from $13.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Two equities 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 company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $17.73.

Asana Stock Down 5.2 %

Shares of NYSE ASAN traded down $1.15 during midday trading on Friday, reaching $20.80. 3,139,997 shares of the company's stock traded hands, compared to its average volume of 3,117,994. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -18.57 and a beta of 1.11. The stock's 50 day simple moving average is $21.54 and its 200-day simple moving average is $16.32. 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, Inc. has a one year low of $11.05 and a one year high of $27.77.

Insiders Place Their Bets

In other Asana news, Director Justin Rosenstein sold 196,067 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $21.78, for a total transaction of $4,270,339.26. Following the completion of the sale, the director now directly owns 1,651,242 shares of the company's stock, valued at approximately $35,964,050.76. This represents a 10.61 % 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, COO Anne Raimondi sold 27,233 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the sale, the chief operating officer now owns 733,855 shares in the company, valued at $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 573,300 shares of company stock worth $12,197,068 over the last 90 days. Company insiders own 63.97% of the company's stock.

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.