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

Asana, Inc. (NYSE:ASAN) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 12,280,000 shares, an increase of 19.2% from the December 15th total of 10,300,000 shares. Based on an average daily volume of 3,180,000 shares, the short-interest ratio is presently 3.9 days. Currently, 14.8% of the company’s stock are short sold.

Analyst Ratings Changes

A number of brokerages have recently commented on ASAN. Oppenheimer lifted their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley lifted their price objective on shares of Asana from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Scotiabank raised their target price on shares of Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Citigroup raised their target price on shares of Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Piper Sandler upgraded shares of Asana from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $27.00 in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.73.

Asana Stock Performance

NYSE ASAN traded down $0.43 during trading on Friday, reaching $19.40. The company’s stock had a trading volume of 3,061,601 shares, compared to its average volume of 3,763,506. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -17.32 and a beta of 1.10. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The firm has a 50 day moving average price of $19.09 and a 200 day moving average price of $15.05.

Insider Activity at Asana

In other news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 63.97% of the stock is owned by insiders.

Institutional Trading of Asana

Institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV lifted its holdings in shares of Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC bought a new stake in shares of Asana during the 3rd quarter worth approximately $43,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Asana by 139.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after acquiring an additional 3,885 shares during the period. MQS Management LLC bought a new stake in shares of Asana during the 3rd quarter worth approximately $141,000. Finally, Paloma Partners Management Co bought a new stake in shares of Asana during the 3rd quarter worth approximately $143,000. Institutional investors own 26.21% of the company’s stock.

Asana Company Profile

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.