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

Asana, Inc. (NYSE:ASAN) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 10,300,000 shares, an increase of 40.7% from the November 30th total of 7,320,000 shares. Currently, 12.5% of the shares of the company are short sold. Based on an average trading volume of 2,960,000 shares, the short-interest ratio is currently 3.5 days.

Asana Price Performance

Shares of NYSE ASAN traded down $0.96 during midday trading on Monday, reaching $20.63. 2,612,826 shares of the company were exchanged, compared to its average volume of 2,327,980. Asana has a one year low of $11.05 and a one year high of $27.77. The stock has a market cap of $4.72 billion, a P/E ratio of -18.42 and a beta of 1.22. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average price is $16.89 and its 200-day moving average price is $14.30.

Analyst Ratings Changes

ASAN has been the subject of a number of recent research reports. JMP Securities boosted their price objective on shares of Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Robert W. Baird increased their price target on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Asana in a report on Friday, December 6th. Citigroup cut their target price on Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America dropped their price target on Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.53.

Insider Transactions at Asana

In other news, COO Anne Raimondi sold 27,233 shares of the business’s 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 sale, the chief operating officer now owns 733,855 shares of the company’s stock, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Several large investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in Asana during the 3rd quarter worth about $538,000. Susquehanna Fundamental Investments LLC bought a new stake in Asana in the second quarter valued at approximately $3,050,000. Neo Ivy Capital Management increased its position in Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company’s stock valued at $1,964,000 after purchasing an additional 112,038 shares during the period. Point72 Asset Management L.P. bought a new position in Asana during the 2nd quarter worth approximately $17,100,000. Finally, Marshall Wace LLP acquired a new position in shares of Asana in the 2nd quarter worth approximately $3,159,000. 26.21% of the stock is currently owned by institutional investors.

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.