Asana (NYSE:ASAN) Sets New 1-Year Low – Time to Sell?

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on ASAN shares. Jefferies Financial Group reduced their price target on shares of Asana from $15.00 to $8.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. DA Davidson cut their price objective on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. BTIG Research started coverage on Asana in a report on Tuesday, December 16th. They set a “neutral” rating on the stock. KeyCorp decreased 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. Finally, Robert W. Baird lowered their target price on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.46.

Asana Trading Down 0.5%

The company has a market cap of $1.58 billion, a PE ratio of -8.31 and a beta of 1.01. The firm has a 50 day moving average of $8.66 and a two-hundred day moving average of $11.95.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Monday, March 2nd. The company reported $0.08 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $205.13 million. The business’s revenue was up 9.2% compared to the same quarter last year. On average, research analysts forecast that Asana, Inc. will post -1.09 EPS for the current year.

Insider Activity at Asana

In other news, 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 sale, the chief operating officer owned 702,013 shares in the company, valued at $10,045,806.03. This represents a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Katie Marie Colendich sold 7,304 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total transaction of $54,195.68. Following the sale, the insider directly owned 108,214 shares of the company’s stock, valued at $802,947.88. This trade represents a 6.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 178,013 shares of company stock valued at $2,477,878. 61.28% of the stock is owned by insiders.

Institutional Trading of Asana

Institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new position in shares of Asana in the third quarter worth $27,000. Jones Financial Companies Lllp boosted its position in shares of Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after buying an additional 1,427 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Asana by 119.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock worth $34,000 after buying an additional 1,391 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Asana in the 4th quarter worth about $50,000. Finally, Daiwa Securities Group Inc. raised its position in Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after buying an additional 1,706 shares during the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.