Asana (NYSE:ASAN) Hits New 52-Week Low at $14.54

Asana, Inc. (NYSE:ASAN) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $14.54 and last traded at $14.67, with a volume of 249211 shares trading hands. The stock had previously closed at $15.26.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ASAN. Piper Sandler raised their target price on shares of Asana from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. KeyCorp started coverage on shares of Asana in a research note on Thursday, March 21st. They set an “underweight” rating and a $14.00 price objective on the stock. Finally, Bank of America started coverage on shares of Asana in a research note on Monday, February 26th. They set a “buy” rating and a $25.00 price objective on the stock. 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 MarketBeat, Asana has a consensus rating of “Hold” and an average price target of $20.67.

Asana Stock Up 1.8 %

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 stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -12.79 and a beta of 1.22. The firm’s fifty day simple moving average is $17.23 and its 200 day simple moving average is $18.42.

Asana (NYSE:ASAN) last announced its 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. The firm had revenue of $171.14 million for the quarter, compared to the consensus estimate of $167.59 million. Asana had a negative net margin of 39.39% and a negative return on equity of 75.22%. On average, sell-side analysts forecast that Asana, Inc. will post -1.08 earnings per share for the current year.

Insider Activity

In other news, COO Anne Raimondi sold 11,779 shares of Asana stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total value of $181,161.02. Following the sale, the chief operating officer now directly owns 492,230 shares in the company, valued at $7,570,497.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Tim M. Wan sold 10,105 shares of Asana stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total value of $155,414.90. Following the sale, the chief financial officer now directly owns 753,888 shares in the company, valued at $11,594,797.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Anne Raimondi sold 11,779 shares of Asana stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 $7,570,497.40. The disclosure for this sale can be found here. Insiders have sold 31,733 shares of company stock worth $488,886 over the last ninety days. Insiders own 63.26% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently added to or reduced their stakes in ASAN. AlphaCrest Capital Management LLC acquired a new position in Asana during the first quarter worth $441,000. Bank of Montreal Can increased its holdings in Asana by 28.8% during the first quarter. Bank of Montreal Can now owns 88,411 shares of the company’s stock worth $3,689,000 after buying an additional 19,777 shares during the last quarter. MetLife Investment Management LLC increased its holdings in Asana by 53.5% during the first quarter. MetLife Investment Management LLC now owns 39,495 shares of the company’s stock worth $1,579,000 after buying an additional 13,757 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Asana by 170.0% during the first quarter. Panagora Asset Management Inc. now owns 14,596 shares of the company’s stock worth $583,000 after buying an additional 9,191 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Asana by 2.3% during the first quarter. Rhumbline Advisers now owns 76,708 shares of the company’s stock worth $3,066,000 after buying an additional 1,716 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.