Asana, Inc. (NYSE:ASAN) Short Interest Up 11.9% in March

Asana, Inc. (NYSE:ASANGet Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 11,860,000 shares, an increase of 11.9% from the February 29th total of 10,600,000 shares. Currently, 14.9% of the shares of the company are sold short. Based on an average trading volume of 2,060,000 shares, the days-to-cover ratio is presently 5.8 days.

Asana Stock Performance

Shares of Asana stock opened at $15.01 on Wednesday. The stock has a market cap of $3.37 billion, a PE ratio of -12.83 and a beta of 1.23. The business has a fifty day simple moving average of $17.70 and a 200-day simple moving average of $18.56. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.13. Asana has a 12 month low of $14.71 and a 12 month high of $26.27.

Wall Street Analysts Forecast Growth

ASAN has been the subject of several research reports. Piper Sandler raised their price objective on Asana from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Oppenheimer reissued an “outperform” rating and set a $28.00 price objective on shares of Asana in a research note on Wednesday, December 6th. KeyCorp initiated coverage on Asana in a research note on Thursday, March 21st. They set an “underweight” rating and a $14.00 price objective for the company. Morgan Stanley reduced their price objective on Asana from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 6th. Finally, DA Davidson reissued a “neutral” rating on shares of Asana in a research note on Wednesday, December 6th. Four analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.67.

Read Our Latest Research Report on ASAN

Insider Activity at Asana

In other Asana news, insider Eleanor B. Lacey sold 5,387 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.46, for a total transaction of $83,283.02. Following the completion of the transaction, the insider now directly owns 225,201 shares of the company’s stock, valued at approximately $3,481,607.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Asana news, CFO Tim M. Wan sold 10,105 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $155,414.90. Following the completion of the transaction, the chief financial officer now directly owns 753,888 shares of the company’s stock, valued at approximately $11,594,797.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eleanor B. Lacey sold 5,387 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.46, for a total value of $83,283.02. Following the transaction, the insider now directly owns 225,201 shares of the company’s stock, valued at $3,481,607.46. The disclosure for this sale can be found here. Insiders have sold a total of 27,271 shares of company stock worth $419,859 in the last three months. 63.26% of the stock is owned by company insiders.

Institutional Trading of Asana

Several hedge funds and other institutional investors have recently modified their holdings of ASAN. Goldman Sachs Group Inc. raised its holdings in shares of Asana by 15.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,782,797 shares of the company’s stock worth $33,891,000 after acquiring an additional 235,135 shares in the last quarter. American International Group Inc. raised its holdings in shares of Asana by 1.9% during the fourth quarter. American International Group Inc. now owns 40,423 shares of the company’s stock worth $768,000 after acquiring an additional 745 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Asana during the fourth quarter worth $881,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Asana by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,335 shares of the company’s stock worth $957,000 after acquiring an additional 901 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of Asana by 37.9% during the fourth quarter. GSA Capital Partners LLP now owns 15,524 shares of the company’s stock worth $295,000 after acquiring an additional 4,269 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

About Asana

(Get Free Report)

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; and manages product launches, marketing campaigns, and organization-wide goal settings.

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