Asana, Inc. (NYSE:ASAN) Short Interest Up 5.6% in October

Asana, Inc. (NYSE:ASAN) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 9,030,000 shares, a growth of 5.6% from the October 15th total of 8,550,000 shares. Based on an average daily trading volume, of 1,820,000 shares, the days-to-cover ratio is presently 5.0 days. Currently, 11.0% of the shares of the company are short sold.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $111,602.92. Following the transaction, the insider now directly owns 375,310 shares of the company’s stock, valued at $4,499,966.90. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,092 shares of company stock worth $527,668. 63.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently made changes to their positions in ASAN. Arizona State Retirement System boosted its holdings in 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 period. Diversified Trust Co boosted its stake in Asana by 2.6% in the second quarter. Diversified Trust Co now owns 34,985 shares of the company’s stock valued at $489,000 after acquiring an additional 900 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares during the last quarter. KBC Group NV raised its position 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 purchasing an additional 1,211 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Asana by 12.1% in the 1st quarter. ProShare Advisors LLC now owns 15,838 shares of the company’s stock worth $245,000 after purchasing an additional 1,710 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors.

Asana Stock Down 0.2 %

Shares of NYSE:ASAN traded down $0.03 during midday trading on Tuesday, reaching $13.78. The company had a trading volume of 1,061,200 shares, compared to its average volume of 1,987,070. The stock has a market capitalization of $3.14 billion, a P/E ratio of -12.02 and a beta of 1.13. The stock’s fifty day moving average price is $12.32 and its 200-day moving average price is $13.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. Asana has a one year low of $11.05 and a one year high of $23.44.

Asana (NYSE:ASAN) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.31) EPS. Equities research analysts expect that Asana will post -1.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on ASAN shares. KeyCorp lowered their price target on Asana from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price target on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. Citigroup reduced their price target on Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. DA Davidson boosted their price target on shares of Asana from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $10.00 price objective on shares of Asana in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.27.

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.