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

Asana, Inc. (NYSE:ASAN)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $5.79 and last traded at $5.7440, with a volume of 402271 shares trading hands. The stock had previously closed at $6.05.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ASAN shares. Royal Bank Of Canada raised shares of Asana from an “underperform” rating to a “sector perform” rating and set a $7.00 target price on the stock in a research report on Wednesday, April 1st. Piper Sandler dropped their target price on shares of Asana from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Asana from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Morgan Stanley dropped their target price on shares of Asana from $14.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 3rd. Finally, KeyCorp dropped their target price on shares of Asana from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.46.

Asana Stock Down 4.2%

The stock’s 50-day moving average is $7.34 and its 200-day moving average is $11.26. The firm has a market cap of $1.38 billion, a P/E ratio of -7.27 and a beta of 1.08.

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

Insiders Place Their Bets

In other Asana news, CAO Veronica Sosa sold 6,479 shares of Asana stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.65, for a total transaction of $43,085.35. Following the sale, the chief accounting officer owned 73,722 shares in the company, valued at $490,251.30. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of Asana stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $6.62, for a total transaction of $123,906.54. Following the sale, the chief financial officer owned 915,281 shares in the company, valued at $6,059,160.22. This represents a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,226 shares of company stock worth $472,065 over the last 90 days. Corporate insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently bought and sold shares of ASAN. Jupiter Asset Management Ltd. boosted its stake in Asana by 705.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after buying an additional 1,204,232 shares in the last quarter. Marshall Wace LLP boosted its stake in Asana by 594.9% during the second quarter. Marshall Wace LLP now owns 1,285,583 shares of the company’s stock worth $17,355,000 after buying an additional 1,100,575 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Asana by 53.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock worth $38,277,000 after buying an additional 977,107 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Asana by 12.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,214,591 shares of the company’s stock worth $71,492,000 after buying an additional 565,681 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Asana by 94.7% during the fourth quarter. Federated Hermes Inc. now owns 804,743 shares of the company’s stock worth $11,033,000 after buying an additional 391,412 shares in the last quarter. Institutional investors and hedge funds 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.