Asana (NYSE:ASAN) Hits New 12-Month Low at $13.43

Asana, Inc. (NYSE:ASAN) reached a new 52-week low on Tuesday . The company traded as low as $13.43 and last traded at $13.52, with a volume of 205427 shares. The stock had previously closed at $13.86.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ASAN shares. Bank of America assumed coverage on shares of Asana in a report on Monday, February 26th. They issued a “buy” rating and a $25.00 price objective on the stock. Piper Sandler upped their price objective on shares of Asana from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Finally, KeyCorp initiated coverage on shares of Asana in a research report on Thursday, March 21st. They set an “underweight” rating and a $14.00 price objective for the company. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Asana has a consensus rating of “Hold” and a consensus price target of $20.67.

Asana Stock Down 1.8 %

The firm has a market cap of $3.06 billion, a PE ratio of -11.66 and a beta of 1.23. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $17.10 and a 200-day moving average price of $18.38.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. Asana had a negative net margin of 39.39% and a negative return on equity of 75.22%. The company had revenue of $171.14 million during the quarter, compared to analysts’ expectations of $167.59 million. Research analysts forecast that Asana, Inc. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Eleanor B. Lacey sold 4,462 shares of Asana stock in a transaction on Monday, April 1st. The shares were sold at an average price of $15.47, for a total transaction of $69,027.14. Following the sale, the insider now directly owns 220,739 shares in the company, valued at approximately $3,414,832.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Asana news, insider Eleanor B. Lacey sold 4,462 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $15.47, for a total value of $69,027.14. Following the completion of the sale, the insider now owns 220,739 shares in the company, valued at $3,414,832.33. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Tim M. Wan sold 10,105 shares of Asana stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total transaction of $155,414.90. Following the completion of the transaction, the chief financial officer now directly owns 753,888 shares in the company, valued at $11,594,797.44. The disclosure for this sale can be found here. Insiders sold a total of 31,733 shares of company stock worth $488,886 over the last 90 days. 63.26% of the stock is owned by insiders.

Institutional Trading of Asana

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Asana by 25.5% during the third quarter. CWM LLC now owns 2,772 shares of the company’s stock worth $51,000 after buying an additional 563 shares in the last quarter. Virtu Financial LLC boosted its stake in Asana by 11.9% in the 1st quarter. Virtu Financial LLC now owns 6,195 shares of the company’s stock worth $248,000 after buying an additional 658 shares during the last quarter. Corton Capital Inc. grew its holdings in Asana by 6.5% in the 3rd quarter. Corton Capital Inc. now owns 11,017 shares of the company’s stock valued at $202,000 after buying an additional 669 shares during the period. Edmond DE Rothschild Holding S.A. grew its holdings in Asana by 26.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company’s stock valued at $61,000 after buying an additional 669 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Asana by 5.1% in the first quarter. Commonwealth Equity Services LLC now owns 14,789 shares of the company’s stock worth $312,000 after acquiring an additional 718 shares during the last quarter. Institutional investors and hedge funds own 26.21% 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.