Empirical Asset Management LLC Acquires Shares of 10,760 Asana, Inc. (NYSE:ASAN)

Empirical Asset Management LLC bought a new position in shares of Asana, Inc. (NYSE:ASAN) in the fourth quarter, HoldingsChannel reports. The fund bought 10,760 shares of the company’s stock, valued at approximately $218,000.

Several other large investors have also recently bought and sold shares of ASAN. Seven Eight Capital LP acquired a new stake in Asana during the 2nd quarter worth $252,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Asana by 139.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after purchasing an additional 3,885 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Asana in the 2nd quarter valued at about $3,159,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Asana in the 2nd quarter valued at about $5,169,000. Finally, AQR Capital Management LLC boosted its position in shares of Asana by 25.6% in the 2nd quarter. AQR Capital Management LLC now owns 32,503 shares of the company’s stock valued at $444,000 after purchasing an additional 6,634 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ASAN shares. Robert W. Baird raised their target price on shares of Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. 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. DA Davidson raised their price target on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler raised Asana from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $27.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.73.

Insider Activity

In other news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 63.97% of the company’s stock.

Asana Stock Down 2.1 %

Shares of NYSE ASAN opened at $19.40 on Monday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $19.09 and a 200 day moving average price of $15.05. Asana, Inc. has a 52 week low of $11.05 and a 52 week high of $27.77. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -17.32 and a beta of 1.10.

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.