Asana, Inc. (NYSE:ASAN) Short Interest Down 13.9% in February

Asana, Inc. (NYSE:ASAN) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 11,480,000 shares, a drop of 13.9% from the February 13th total of 13,340,000 shares. Based on an average daily trading volume, of 4,100,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 13.6% of the shares of the company are short sold.

Asana Stock Down 2.0 %

Shares of ASAN stock traded down $0.28 during trading on Thursday, reaching $13.99. The company’s stock had a trading volume of 328,934 shares, compared to its average volume of 2,557,749. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -12.55 and a beta of 1.13. The stock’s 50-day moving average price is $19.60 and its 200 day moving average price is $16.83. Asana has a 1-year low of $11.05 and a 1-year high of $27.77.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ASAN shares. Citigroup raised their price target on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Robert W. Baird decreased their price target on shares of Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Scotiabank reduced their target price on shares of Asana from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $10.00 target price on shares of Asana in a research note on Friday, December 6th. Finally, Bank of America reduced their target price on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.67.

Insider Activity at Asana

In related news, CEO Dustin A. Moskovitz acquired 225,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This trade represents a 0.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.01, for a total transaction of $3,001,500.00. Following the transaction, the director now directly owns 2,047,309 shares in the company, valued at approximately $40,966,653.09. The trade was a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 748,300 shares of company stock worth $15,483,318. 63.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC grew its holdings in shares of Asana by 8.1% in the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock valued at $254,166,000 after purchasing an additional 937,726 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock valued at $43,574,000 after purchasing an additional 438,057 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Asana in the fourth quarter valued at approximately $38,966,000. Geode Capital Management LLC grew its holdings in shares of Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock valued at $21,605,000 after purchasing an additional 12,055 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Asana by 17.6% in the fourth quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock valued at $35,350,000 after purchasing an additional 261,298 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.