Asana, Inc. (NYSE:ASAN – Get Rating)’s stock price reached a new 52-week low on Friday after DA Davidson lowered their price target on the stock from $20.00 to $18.00. The company traded as low as $14.84 and last traded at $15.63, with a volume of 159858 shares changing hands. The stock had previously closed at $18.08.
Asana posts a strong result, what you should consider before buying the stock?
Several other equities research analysts also recently issued reports on the stock. Citigroup decreased their price objective on shares of Asana from $21.00 to $19.00 in a research note on Friday. KeyCorp started coverage on shares of Asana in a report on Thursday, October 13th. They set a “sector weight” rating on the stock. Morgan Stanley lowered their price target on shares of Asana from $26.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday. Wolfe Research increased their target price on shares of Asana from $22.00 to $23.75 and gave the company an “outperform” rating in a research report on Thursday, September 8th. Finally, Royal Bank of Canada decreased their target price on shares of Asana from $15.00 to $12.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.77.
Insider Activity at Asana
In related news, CEO Dustin A. Moskovitz acquired 19,273,127 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were bought at an average price of $18.16 per share, for a total transaction of $349,999,986.32. Following the purchase, the chief executive officer now directly owns 39,112,803 shares in the company, valued at approximately $710,288,502.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Dustin A. Moskovitz acquired 19,273,127 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were purchased at an average cost of $18.16 per share, with a total value of $349,999,986.32. Following the acquisition, the chief executive officer now directly owns 39,112,803 shares in the company, valued at approximately $710,288,502.48. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eleanor B. Lacey sold 1,855 shares of the stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $23.60, for a total value of $43,778.00. Following the sale, the insider now directly owns 168,607 shares in the company, valued at $3,979,125.20. The disclosure for this sale can be found here. In the last three months, insiders sold 6,986 shares of company stock worth $165,326. 61.87% of the stock is owned by company insiders.
Hedge Funds Weigh In On Asana
A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC grew its stake in Asana by 11.9% during the first quarter. Virtu Financial LLC now owns 6,195 shares of the company’s stock worth $248,000 after purchasing an additional 658 shares during the period. Teacher Retirement System of Texas lifted its holdings in Asana by 5.4% during the first quarter. Teacher Retirement System of Texas now owns 13,605 shares of the company’s stock worth $544,000 after acquiring an additional 694 shares during the period. Gables Capital Management Inc. lifted its holdings in Asana by 30.4% during the second quarter. Gables Capital Management Inc. now owns 3,000 shares of the company’s stock worth $53,000 after acquiring an additional 700 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Asana by 0.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 227,032 shares of the company’s stock valued at $5,047,000 after buying an additional 812 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV grew its position in shares of Asana by 2.4% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 35,743 shares of the company’s stock valued at $795,000 after purchasing an additional 837 shares in the last quarter. 28.22% of the stock is currently owned by institutional investors.
Asana Stock Performance
The company has a 50-day moving average price of $20.22 and a two-hundred day moving average price of $20.72. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $3.02 billion, a PE ratio of -8.15 and a beta of 1.04.
Asana (NYSE:ASAN – Get Rating) last released its earnings results on Wednesday, September 7th. The company reported ($0.59) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.59). The company had revenue of $134.90 million during the quarter, compared to analyst estimates of $127.27 million. Asana had a negative return on equity of 212.28% and a negative net margin of 79.34%. Asana’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.36) EPS. Analysts predict that Asana, Inc. will post -2.09 EPS for the current fiscal year.
Asana Company Profile
Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company’s platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.