Asana, Inc. (NYSE:ASAN) Short Interest Update

Asana, Inc. (NYSE:ASAN) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 10,300,000 shares, a growth of 40.7% from the November 30th total of 7,320,000 shares. Based on an average daily trading volume, of 2,960,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 12.5% of the shares of the stock are sold short.

Insider Buying and Selling at Asana

In related news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the completion of the sale, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Asana by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,045 shares of the company’s stock worth $238,000 after buying an additional 1,769 shares in the last quarter. Versor Investments LP lifted its position in Asana by 48.3% in the 2nd quarter. Versor Investments LP now owns 23,200 shares of the company’s stock valued at $325,000 after acquiring an additional 7,557 shares in the last quarter. Rhumbline Advisers boosted its stake in Asana by 2.2% during the 2nd quarter. Rhumbline Advisers now owns 115,958 shares of the company’s stock valued at $1,622,000 after purchasing an additional 2,464 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV increased its holdings in shares of Asana by 5.0% in the 2nd quarter. Acorn Financial Advisory Services Inc. ADV now owns 81,287 shares of the company’s stock worth $1,137,000 after purchasing an additional 3,835 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Asana by 3.6% in the second quarter. Arizona State Retirement System now owns 23,401 shares of the company’s stock worth $327,000 after purchasing an additional 803 shares during the last quarter. 26.21% of the stock is owned by institutional investors.

Asana Stock Down 4.4 %

Shares of Asana stock traded down $0.96 during trading on Monday, hitting $20.63. The company’s stock had a trading volume of 2,610,468 shares, compared to its average volume of 2,327,970. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The company has a fifty day simple moving average of $16.89 and a two-hundred day simple moving average of $14.30. The company has a market capitalization of $4.72 billion, a PE ratio of -18.42 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ASAN shares. Citigroup dropped their price objective on shares of Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Morgan Stanley raised their price objective on Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Robert W. Baird upped their target price on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Piper Sandler lifted their price target on shares of Asana from $12.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Asana from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.53.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.