Asana Inc (NYSE: ASAN) stock jumped 1.48% on Friday to $21.30 against a previous-day closing price of $20.99. With 1.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.69 million shares. The 52-week range on ASAN shows that it touched its highest point at $26.27 and its lowest point at $11.32 during that stretch. It currently has a 1-year price target of $21.00. With its current market cap of 4.68 billion, ASAN has annualized dividend of $0.25 while the current yield stands at 1.17%. Beta for the stock currently stands at 1.31.
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 up-trending over the past week, with a rise of 8.29%, but this was up by 10.65% over a month. Three-month performance surged to 4.67% while six-month performance rose 6.82%. The stock gained 2.11% in the past year, while it has gained 54.68% so far this year. A look at the trailing 12-month EPS for ASAN yields -1.55 with Next year EPS estimates of -0.25. For the next quarter, that number is -0.11. This implies an EPS growth rate of 63.84% for this year and 33.78% for next year.
Float and Shares Shorts:
At present, 128.80 million ASAN shares are outstanding with a float of 75.15 million shares on hand for trading. On Oct 30, 2023, short shares totaled 10.22 million, which was 4.65% higher than short shares on Sep 28, 2023. In addition to Mr. Dustin A. Moskovitz as the firm’s Co-Founder, President, CEO & Chair, Mr. Justin Rosenstein serves as its Co-Founder, Advisor & Director.
Institutional Ownership:
Through their ownership of 41.46% of ASAN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 48.80% of ASAN, in contrast to 21.41% held by mutual funds. Shares owned by individuals account for 19.10%. As the largest shareholder in ASAN with 6.70% of the stake, The Vanguard Group, Inc. holds 8,984,118 shares worth 8,984,118. A second-largest stockholder of ASAN, BlackRock Fund Advisors, holds 5,564,550 shares, controlling over 4.15% of the firm’s shares. Champlain Investment Partners LLC is the third largest shareholder in ASAN, holding 3,339,605 shares or 2.49% stake. With a 1.85% stake in ASAN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,485,620 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.52% of ASAN stock, is the second-largest Mutual Fund holder. It holds 2,034,490 shares valued at 37.58 million. iShares Russell 2000 ETF holds 1.38% of the stake in ASAN, owning 1,850,530 shares worth 34.18 million.
Analysts Ratings:
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 $21.00. Based on these targets, ASAN could surge 40.85% to reach the target high and fall by -53.05% to reach the target low. Reaching the average price target will result in a decline of -1.41% from current levels.
Summary of Insider Activity:
Insiders traded ASAN stock several times over the past three months with 22 Buys and 8 Sells. In these transactions, 4,764,066 shares were bought while 78,959 shares were sold. The number of buy transactions has increased to 92 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 8,145,130 while 489,335 shares were sold.
