Asana (NYSE:ASAN) Reaches New 12-Month Low at $13.35

Asana, Inc. (NYSE:ASAN - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock 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 Upgrades and Downgrades

Several research firms have recently weighed in on ASAN. Piper Sandler raised their price target on shares of Asana from $16.00 to $18.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 2nd. Bank of America began coverage on shares of Asana in a research note on Monday, February 26th. They issued a "buy" rating and a $25.00 price target on the stock. Finally, KeyCorp began coverage on shares of Asana in a research note on Thursday, March 21st. They issued an "underweight" rating and a $14.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Asana currently has an average rating of "Hold" and an average price target of $20.67.

Asana Trading Up 2.3 %

The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -11.88 and a beta of 1.23. The business's 50-day simple moving average is $16.58 and its two-hundred day simple moving average is $18.26.

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

Insider Activity at Asana

In related 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 completion of the transaction, the chief financial officer now owns 753,888 shares in the company, valued at $11,594,797.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 completion of the transaction, the chief financial officer now owns 753,888 shares in the company, valued at $11,594,797.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 11,779 shares of Asana stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 492,230 shares of the company's stock, valued at approximately $7,570,497.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,733 shares of company stock worth $488,886. Corporate insiders own 63.26% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Asana by 4.9% in the third 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 during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Asana by 15.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company's stock worth $33,891,000 after buying an additional 235,135 shares during the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Asana during the 4th quarter worth approximately $25,246,000. Charles Schwab Investment Management Inc. lifted its position in shares of Asana by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 696,277 shares of the company's stock worth $13,236,000 after buying an additional 43,564 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Asana during the 4th quarter worth approximately $7,500,000. Hedge funds and other 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.