Asana (NYSE:ASAN) Hits New 52-Week Low at $13.43

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

Wall Street Analysts Forecast Growth

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

Asana Stock Up 1.2 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a market cap of $3.08 billion, a PE ratio of -11.72 and a beta of 1.22. The stock has a fifty day moving average price of $16.92 and a 200-day moving average price of $18.32.

Asana (NYSE:ASAN) last issued 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. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. The business had revenue of $171.14 million during the quarter, compared to analysts’ expectations of $167.59 million. Research analysts expect that Asana, Inc. will post -1.08 EPS for the current year.

Insider Transactions at Asana

In other news, COO Anne Raimondi sold 11,779 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $181,161.02. Following the completion of the sale, the chief operating officer now owns 492,230 shares in the company, valued at approximately $7,570,497.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Asana news, COO Anne Raimondi sold 11,779 shares of the company’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 value of $181,161.02. Following the completion of the transaction, the chief operating officer now owns 492,230 shares in the company, valued at approximately $7,570,497.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tim M. Wan sold 10,105 shares of the company’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 value of $155,414.90. Following the completion of the transaction, the chief financial officer now owns 753,888 shares of the company’s stock, valued at approximately $11,594,797.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,733 shares of company stock worth $488,886. 63.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asana

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its holdings in Asana by 117.7% in the 3rd quarter. Lazard Asset Management LLC now owns 1,463 shares of the company’s stock worth $26,000 after acquiring an additional 791 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Asana in the 3rd quarter valued at approximately $27,000. FMR LLC raised its position in shares of Asana by 120.4% in the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after purchasing an additional 862 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Asana by 765.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,829 shares of the company’s stock valued at $39,000 after purchasing an additional 2,502 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of Asana in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.