Asana (NYSE:ASAN) Hits New 12-Month Low at $13.35

Asana, Inc. (NYSE:ASAN) hit a new 52-week low on Monday . The stock traded as low as $13.35 and last traded at $13.39, with a volume of 372543 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

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

Asana Stock Performance

The firm’s 50-day moving average is $16.69 and its 200 day moving average is $18.27. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.13.

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

Insider Transactions at Asana

In related news, insider Eleanor B. Lacey sold 4,462 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the sale, the insider now owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Eleanor B. Lacey sold 4,462 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anne Raimondi sold 11,779 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $181,161.02. Following the sale, the chief operating officer now owns 492,230 shares in the company, valued at approximately $7,570,497.40. The disclosure for this sale can be found here. Insiders sold a total of 31,733 shares of company stock valued at $488,886 over the last three months. 63.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

Several institutional investors have recently added to or reduced their stakes in ASAN. Vanguard Group Inc. boosted its stake in Asana by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,213,830 shares of the company’s stock worth $168,705,000 after buying an additional 434,003 shares during the last quarter. Trexquant Investment LP raised its stake in Asana by 83.7% during the third quarter. Trexquant Investment LP now owns 202,709 shares of the company’s stock worth $3,712,000 after purchasing an additional 92,387 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Asana by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,713 shares of the company’s stock valued at $11,951,000 after purchasing an additional 61,141 shares during the last quarter. Dark Forest Capital Management LP raised its position in shares of Asana by 132.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 55,177 shares of the company’s stock worth $1,010,000 after buying an additional 31,489 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Asana by 252.9% in the third quarter. Canada Pension Plan Investment Board now owns 232,200 shares of the company’s stock valued at $4,252,000 after acquiring an additional 166,400 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Company 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.