Asana Inc. (NYSE: ASAN) stock fell -0.27% on Monday to $18.20 against a previous-day closing price of $18.25. With 2.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.43 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $18.58 whereas the lowest price it dropped to was $17.81. The 52-week range on ASAN shows that it touched its highest point at $27.14 and its lowest point at $11.32 during that stretch. It currently has a 1-year price target of $23.31. Beta for the stock currently stands at 1.27.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ASAN was down-trending over the past week, with a drop of -9.86%, but this was down by -8.22% over a month. Three-month performance dropped to -27.23% while six-month performance fell -16.36%. The stock lost -28.79% in the past year, while it has gained 32.17% so far this year. A look at the trailing 12-month EPS for ASAN yields -1.55 with Next year EPS estimates of -0.27. For the next quarter, that number is -0.11. This implies an EPS growth rate of -24.70% for this year and 30.80% for next year.
Float and Shares Shorts:
At present, 219.00 million ASAN shares are outstanding with a float of 78.86 million shares on hand for trading. On Aug 30, 2023, short shares totaled 9.42 million, which was 4.29% higher than short shares on Jul 30, 2023. In addition to ASAN as the firm’s Asana, Inc., SAN serves as its Banco Santander, S.A. Sponsored.
Through their ownership of 41.46% of ASAN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 46.09% of ASAN, in contrast to 24.50% held by mutual funds. Shares owned by individuals account for 19.72%. As the largest shareholder in ASAN with 6.52% of the stake, The Vanguard Group, Inc. holds 8,557,290 shares worth 8,557,290. A second-largest stockholder of ASAN, Champlain Investment Partners LLC, holds 6,446,849 shares, controlling over 4.91% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ASAN, holding 5,364,668 shares or 4.08% stake. With a 1.81% stake in ASAN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,383,167 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.56% of ASAN stock, is the second-largest Mutual Fund holder. It holds 2,047,647 shares valued at 44.0 million. Champlain Mid Cap Fund holds 1.37% of the stake in ASAN, owning 1,805,000 shares worth 38.79 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASAN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASAN analysts setting a high price target of $30.00 and a low target of $10.00, the average target price over the next 12 months is $23.08. Based on these targets, ASAN could surge 64.84% to reach the target high and fall by -45.05% to reach the target low. Reaching the average price target will result in a growth of 26.81% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ASAN stock several times over the past three months with 44 Buys and 12 Sells. In these transactions, 2,872,739 shares were bought while 57,941 shares were sold. The number of buy transactions has increased to 80 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 3,703,856 while 417,288 shares were sold.