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Asana Inc. (ASAN) – Don’t Be So Quick to Call it Dead

169 institutions hold shares in Asana Inc. (ASAN), with 21.91M shares held by insiders accounting for 13.44% while institutional investors hold 59.64% of the company’s shares. The shares outstanding are 161.48M, and float is at 70.21M with Short Float at 6.32%. Institutions hold 51.62% of the Float.

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The top institutional shareholder in the company is Generation Investment Management LLP with over 6.25 million shares valued at $184.74 million. The investor’s holdings represent 6.85% of the ASAN Shares outstanding. As of Dec 30, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 4.55 million shares valued at $134.37 million to account for 4.98% of the shares outstanding. The other top investors are Champlain Investment Partners, LLC which holds 3.33 million shares representing 3.64% and valued at over $98.26 million, while Gilder, Gagnon, Howe & Co. holds 3.32% of the shares totaling 3.03 million with a market value of $89.42 million.

Asana Inc. (NYSE: ASAN) is 14.15% higher on its value in year-to-date trading and has touched a low of $20.57 and a high of $43.72 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ASAN stock was last observed hovering at around $33.97 in the last trading session, with the day’s loss setting it -0.24% off its average median price target of $40.00 for the next 12 months. It is also 25.04% off the consensus price target high of $45.00 offered by 12 analysts, but current levels are -24.93% lower than the price target low of $27.00 for the same period.

Currently trading at $33.73, the stock is 3.80% and 2.36% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.33 million and changing -0.71% at the moment leaves the stock 11.27% off its SMA200. ASAN registered a gain of 42.74% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $31.63 and a 200-day simple moving average (SMA200) of $30.55.

The stock witnessed a 28.94% loss in the last 1 month and extending the period to 3 months gives it a -3.63%, and is 6.00% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.55% over the week and 4.74% over the month.

Asana Inc. (ASAN) has around 1080 employees, a market worth around $5.32B and $227.00M in sales. Profit margin for the company is -93.30%. Distance from 52-week low is 63.98% and -22.85% from its 52-week high. The company has generated returns on investments over the last 12 months (-47.90%).

Asana Inc. (ASAN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Asana Inc. (ASAN) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.30, where 3 rate it as a Hold and 1 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Asana Inc. is expected to release its quarterly report on 06/30/2021 and quarterly earnings per share for the current quarter are estimated at -$0.27 with sales reaching $70.17M over the same period.The EPS is expected to shrink by -70.90% this year, but quarterly earnings will post 37.60% year-over-year.

Asana Inc. (ASAN) Insider Activity

A total of 42 insider transactions have happened at Asana Inc. (ASAN) in the last six months, with sales accounting for 15 and purchases happening 27 times. The most recent transaction is an insider sale by Farinacci Chris, the company’s Chief Operating Officer. SEC filings show that Farinacci Chris sold 26,072 shares of the company’s common stock on Apr 01 at a price of $29.50 per share for a total of $0.77 million. Following the sale, the insider now owns 0.29 million shares.

Asana Inc. disclosed in a document filed with the SEC on Mar 15 that Wan Tim M (Chief Financial Officer) sold a total of 40,000 shares of the company’s common stock. The trade occurred on Mar 15 and was made at $32.85 per share for $1.31 million. Following the transaction, the insider now directly holds 0.48 million shares of the ASAN stock.

Still, SEC filings show that on Mar 15, LACEY ELEANOR B (GC, Corporate Secretary) disposed off 21,500 shares at an average price of $32.84 for $0.71 million. The insider now directly holds 129,359 shares of Asana Inc. (ASAN).

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