Asana (NYSE:ASAN) Hits New 1-Year Low at $13.43

Asana, Inc. (NYSE:ASAN - Get Free Report) reached 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. The stock had previously closed at $13.86.

Analyst Ratings Changes

A number of analysts recently weighed in on ASAN shares. Bank of America began coverage on shares of Asana in a report on Monday, February 26th. They issued a "buy" rating and a $25.00 price target for the company. KeyCorp assumed coverage on shares of Asana in a research report on Thursday, March 21st. They set an "underweight" rating and a $14.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Asana from $16.00 to $18.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 2nd. 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. According to MarketBeat.com, Asana has a consensus rating of "Hold" and an average price target of $20.67.

Asana Stock Down 2.3 %

The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The firm's 50 day simple moving average is $17.01 and its 200-day simple moving average is $18.35. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -11.58 and a beta of 1.23.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. Asana had a negative net margin of 39.39% and a negative return on equity of 75.22%. The firm had revenue of $171.14 million for the quarter, compared to analyst estimates of $167.59 million. Equities analysts expect that Asana, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Asana

In other news, insider Eleanor B. Lacey sold 5,387 shares of the business's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $15.46, for a total transaction of $83,283.02. Following the transaction, the insider now directly owns 225,201 shares in the company, valued at approximately $3,481,607.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Eleanor B. Lacey sold 4,462 shares of Asana stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the sale, the insider now owns 220,739 shares of the company's stock, valued at approximately $3,414,832.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eleanor B. Lacey sold 5,387 shares of Asana stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $15.46, for a total transaction of $83,283.02. Following the sale, the insider now directly owns 225,201 shares of the company's stock, valued at approximately $3,481,607.46. The disclosure for this sale can be found here. Insiders have sold 31,733 shares of company stock worth $488,886 in the last ninety days. Insiders own 63.26% of the company's stock.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale bought a new stake in Asana in the 3rd quarter valued at about $27,000. 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 valued at $26,000 after purchasing an additional 791 shares during the period. FMR LLC boosted its holdings in 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 during the period. KBC Group NV bought a new stake in Asana in the 4th quarter valued at about $41,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Asana by 1,015.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company's stock valued at $46,000 after purchasing an additional 2,294 shares during the period. Institutional investors own 26.21% of the company's stock.

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.