Asana (NYSE:ASAN) Reaches New 1-Year Low – Should You Sell?

Asana, Inc. (NYSE:ASAN) shares reached a new 52-week low during trading on Friday . The company traded as low as $6.31 and last traded at $6.3850, with a volume of 544955 shares changing hands. The stock had previously closed at $6.68.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Asana from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. KeyCorp reduced their target price on Asana from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. HSBC set a $8.00 target price on Asana in a research note on Friday, February 13th. DA Davidson lowered their price target on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Asana in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Asana has an average rating of “Hold” and an average target price of $12.46.

Asana Stock Down 1.3%

The company has a market capitalization of $1.56 billion, a PE ratio of -8.24 and a beta of 1.01. The firm’s 50-day moving average is $8.78 and its 200-day moving average is $12.02.

Asana (NYSE:ASAN) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The business had revenue of $205.57 million for the quarter, compared to the consensus estimate of $205.13 million. The business’s revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts predict that Asana, Inc. will post -1.09 EPS for the current year.

Insider Activity at Asana

In other Asana news, CFO Sonalee Elizabeth Parekh sold 83,656 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $14.31, for a total value of $1,197,117.36. Following the completion of the sale, the chief financial officer owned 993,037 shares of the company’s stock, valued at $14,210,359.47. This represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Anne Raimondi sold 62,165 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $14.31, for a total transaction of $889,581.15. Following the transaction, the chief operating officer owned 702,013 shares in the company, valued at $10,045,806.03. The trade was a 8.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 178,013 shares of company stock valued at $2,477,878. Corporate insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Asana by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company’s stock worth $180,606,000 after purchasing an additional 48,847 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Asana by 12.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,214,591 shares of the company’s stock worth $71,492,000 after purchasing an additional 565,681 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Asana by 53.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after buying an additional 977,107 shares during the period. Marshall Wace LLP boosted its position in Asana by 35.1% during the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock valued at $36,375,000 after buying an additional 689,546 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Asana by 13.9% during the second quarter. Geode Capital Management LLC now owns 2,153,811 shares of the company’s stock valued at $29,080,000 after buying an additional 263,601 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Company Profile

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.