Asana (NYSE:ASAN) Sets New 52-Week Low at $13.35

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

Analyst Ratings Changes

A number of brokerages have recently commented on ASAN. Piper Sandler increased their price objective on 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 Asana in a report on Monday, February 26th. They issued a “buy” rating and a $25.00 target price for the company. Finally, KeyCorp initiated coverage on Asana in a report on Thursday, March 21st. They issued an “underweight” rating and a $14.00 target price for the company. Four research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Asana presently has a consensus rating of “Hold” and a consensus price target of $20.67.

Asana Trading Up 5.9 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.80 and a quick ratio of 1.80. The company has a fifty day moving average of $16.50 and a 200-day moving average of $18.24. The firm has a market capitalization of $3.31 billion, a PE ratio of -12.59 and a beta of 1.23.

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

Insiders Place Their Bets

In other Asana news, insider Eleanor B. Lacey sold 4,462 shares of the 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 transaction, the insider now directly owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Eleanor B. Lacey sold 4,462 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $15.47, for a total value of $69,027.14. Following the sale, the insider now directly owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Tim M. Wan sold 10,105 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total value of $155,414.90. Following the completion of the sale, 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 have sold 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.

Institutional Investors Weigh In On Asana

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 434,003 shares in the last quarter. Trexquant Investment LP lifted its holdings in Asana by 83.7% during the 3rd quarter. Trexquant Investment LP now owns 202,709 shares of the company’s stock worth $3,712,000 after buying an additional 92,387 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Asana by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,713 shares of the company’s stock worth $11,951,000 after buying an additional 61,141 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in Asana by 132.9% during 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 in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Asana by 252.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 232,200 shares of the company’s stock worth $4,252,000 after buying an additional 166,400 shares in the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

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.