Asana (NYSE:ASAN) Reaches New 1-Year Low – Should You Sell?

Asana, Inc. (NYSE:ASAN) reached a new 52-week low on Friday . The company traded as low as $6.31 and last traded at $6.3850, with a volume of 544955 shares changing hands. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird dropped their target price on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Piper Sandler lowered their price objective on Asana from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. HSBC set a $8.00 price objective on Asana in a research note on Friday, February 13th. UBS Group decreased their target price on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Finally, Citigroup lowered their price target on shares of Asana from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.46.

Asana Price Performance

The company has a market capitalization of $1.56 billion, a P/E ratio of -8.24 and a beta of 1.01. The company has a 50 day moving average of $8.78 and a 200-day moving average of $12.02.

Asana (NYSE:ASAN) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The business had revenue of $205.57 million during the quarter, compared to analyst estimates of $205.13 million. The business’s revenue was up 9.2% compared to the same quarter last year. Research analysts predict that Asana, Inc. will post -1.09 EPS for the current fiscal year.

Insider Activity

In related news, CFO Sonalee Elizabeth Parekh sold 83,656 shares of Asana stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $14.31, for a total value of $1,197,117.36. Following the sale, the chief financial officer owned 993,037 shares in the company, valued at $14,210,359.47. The trade was a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Anne Raimondi sold 62,165 shares of Asana stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $14.31, for a total transaction of $889,581.15. Following the completion of the sale, the chief operating officer owned 702,013 shares in the company, valued at approximately $10,045,806.03. This trade represents a 8.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 178,013 shares of company stock valued at $2,477,878. Company insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

Several institutional investors and hedge funds have recently modified their holdings of ASAN. FNY Investment Advisers LLC bought a new stake in shares of Asana during the 3rd quarter valued at about $27,000. Farther Finance Advisors LLC raised its stake 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 buying an additional 1,391 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Asana by 137.7% in the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock worth $34,000 after buying an additional 1,427 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Asana in the fourth quarter worth about $50,000. Finally, Daiwa Securities Group Inc. lifted its holdings 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 buying an additional 1,706 shares during the period. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Company Profile

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.