Asana (NYSE:ASAN) Reaches New 12-Month Low at $15.03

Asana, Inc. (NYSE:ASANGet Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $15.03 and last traded at $15.16, with a volume of 417124 shares trading hands. The stock had previously closed at $15.49.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ASAN. HSBC lowered Asana from a “hold” rating to a “reduce” rating and set a $18.00 price target for the company. in a research report on Wednesday, December 6th. Morgan Stanley lowered their price target on Asana from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 6th. DA Davidson reissued a “neutral” rating on shares of Asana in a research report on Wednesday, December 6th. Bank of America started coverage on Asana in a research report on Monday, February 26th. They set a “buy” rating and a $25.00 target price for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $28.00 target price on shares of Asana in a research report on Wednesday, December 6th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.67.

Get Our Latest Report on ASAN

Asana Stock Down 2.5 %

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 firm has a 50 day moving average price of $17.70 and a two-hundred day moving average price of $18.56.

Insiders Place Their Bets

In other Asana news, CFO Tim M. Wan sold 10,105 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was 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 approximately $11,594,797.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Asana news, COO Anne Raimondi sold 11,779 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total value of $181,161.02. Following the completion of the transaction, the chief operating officer now owns 492,230 shares in the company, valued at approximately $7,570,497.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Tim M. Wan sold 10,105 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 753,888 shares in the company, valued at approximately $11,594,797.44. The disclosure for this sale can be found here. Insiders sold a total of 27,271 shares of company stock worth $419,859 in the last quarter. 63.26% of the stock is owned by company insiders.

Institutional Trading of Asana

Institutional investors and hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Asana in the 3rd quarter valued at about $27,000. Lazard Asset Management LLC raised its holdings in shares of 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 acquiring an additional 791 shares in the last quarter. FMR LLC raised its holdings in shares of Asana by 120.4% during the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after buying an additional 862 shares in the last quarter. KBC Group NV purchased a new position in shares of Asana during the 4th quarter valued at about $41,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Asana by 1,015.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company’s stock valued at $46,000 after buying an additional 2,294 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

About Asana

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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; and manages product launches, marketing campaigns, and organization-wide goal settings.

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