Short Interest in Asana, Inc. (NYSE:ASAN) Expands By 18.9%

Asana, Inc. (NYSE:ASAN) saw a large increase in short interest in February. As of February 13th, there was short interest totaling 26,358,622 shares, an increase of 18.9% from the January 29th total of 22,164,574 shares. Based on an average daily volume of 6,905,155 shares, the short-interest ratio is presently 3.8 days. Approximately 28.7% of the company’s shares are sold short. Approximately 28.7% of the company’s shares are sold short. Based on an average daily volume of 6,905,155 shares, the short-interest ratio is presently 3.8 days.

Asana Stock Up 1.8%

Shares of ASAN stock traded up $0.14 during trading hours on Thursday, reaching $7.89. The company had a trading volume of 3,243,583 shares, compared to its average volume of 5,510,474. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -9.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.40. Asana has a 12 month low of $6.51 and a 12 month high of $19.00. The business has a fifty day simple moving average of $10.17 and a 200-day simple moving average of $12.54.

Asana (NYSE:ASAN) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $205.57 million during the quarter, compared to analyst estimates of $205.13 million. Asana had a negative return on equity of 71.50% and a negative net margin of 23.90%.Asana’s revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that Asana will post -1.09 earnings per share for the current fiscal year.

Asana News Roundup

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Q4 results and call showed a slight EPS and revenue beat (EPS $0.08 vs $0.07 est.; revenue $205.6M vs $205.1M) and ~9% YoY revenue growth — this supports the stock despite broader worries. Read More.
• Positive Sentiment: KeyCorp raised its price target to $15, signaling at least one analyst sees meaningful upside from current levels. Read More.
• Neutral Sentiment: Management presented at the Morgan Stanley TMT conference — investor takeaways and management tone from the presentation can temper near-term sentiment, but didn’t materially change guidance. Read More.
• Negative Sentiment: Morgan Stanley cut its price target to $8, reflecting lowered expectations for growth/profitability and adding downward pressure. Read More.
• Negative Sentiment: Robert W. Baird issued a pessimistic forecast for ASAN, signaling more skeptical sentiment among brokers. Read More.
• Negative Sentiment: Royal Bank of Canada lowered expectations for the stock, another indicator of downward analyst revisions. Read More.
• Negative Sentiment: Citigroup trimmed its price target to $13, joining peers cutting near-term valuation assumptions. Read More.
• Negative Sentiment: Piper Sandler reduced its price target to $9, contributing to the cluster of mid-to-low teen/single-digit targets hitting the tape. Read More.
• Negative Sentiment: UBS cut its target sharply (from $16 to $9) and moved to neutral, a notable downgrade from a previously more constructive stance. Read More.
• Negative Sentiment: Short-tenure CFO resigned, increasing near-term governance and execution risk for investors assessing management stability. Read More.

Insider Buying and Selling

In other Asana news, CFO Sonalee Elizabeth Parekh sold 24,888 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $13.54, for a total transaction of $336,983.52. Following the transaction, the chief financial officer directly owned 968,149 shares in the company, valued at approximately $13,108,737.46. This represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justin Rosenstein sold 850,233 shares of Asana stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $15.12, for a total transaction of $12,855,522.96. Following the completion of the sale, the director owned 210,398 shares of the company’s stock, valued at $3,181,217.76. This represents a 80.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,127,448 shares of company stock valued at $16,825,400 over the last 90 days. Company insiders own 61.28% of the company’s stock.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. Vanguard Group Inc. increased its stake in shares of Asana by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company’s stock worth $180,606,000 after purchasing an additional 48,847 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Asana by 12.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,214,591 shares of the company’s stock worth $71,492,000 after acquiring an additional 565,681 shares during the period. Goldman Sachs Group Inc. boosted its stake in Asana by 53.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after buying an additional 977,107 shares during the period. Marshall Wace LLP raised its holdings in shares of Asana by 35.1% in the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock valued at $36,375,000 after acquiring an additional 689,546 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Asana by 13.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,153,811 shares of the company’s stock valued at $29,080,000 after acquiring an additional 263,601 shares during the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ASAN. Weiss Ratings restated a “sell (d-)” rating on shares of Asana in a report on Monday, December 29th. HSBC set a $8.00 price objective on shares of Asana in a research report on Friday, February 13th. KeyCorp decreased their target price on Asana from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday. BTIG Research initiated coverage on Asana in a report on Tuesday, December 16th. They issued a “neutral” rating on the stock. Finally, Royal Bank Of Canada decreased their price objective on Asana from $11.00 to $7.00 and set an “underperform” rating for the company in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus target price of $12.46.

About Asana

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.