Short Interest in Asana, Inc. (NYSE:ASAN) Expands By 5.6%

Asana, Inc. (NYSE:ASAN) was the recipient of a significant growth in short interest in 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 short-interest ratio is presently 5.0 days. Currently, 11.0% of the shares of the company are sold short.

Insider Buying and Selling

In other Asana news, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the transaction, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the sale, the chief operating officer now directly owns 761,088 shares of the company’s stock, valued at $9,125,445.12. This represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,092 shares of company stock valued at $527,668. Corporate insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Large investors have recently modified their holdings of the company. Headlands Technologies LLC raised its stake in Asana by 327.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the last quarter. KBC Group NV raised its stake in shares of Asana by 52.1% during the third 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 last quarter. Quest Partners LLC acquired a new stake in shares of Asana during the third quarter worth $43,000. Redwood Wealth Management Group LLC purchased a new position in Asana in the 2nd quarter valued at $65,000. Finally, Daiwa Securities Group Inc. increased its stake in Asana by 26.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after buying an additional 1,028 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Stock Down 0.2 %

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

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

Analyst Upgrades and Downgrades

ASAN has been the topic of a number of recent analyst reports. JMP Securities decreased their price objective on Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a report on Wednesday, September 4th. UBS Group lowered their price target on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on shares of Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, September 4th. DA Davidson increased their target price on shares of Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Citigroup reduced their price target on shares of Asana from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Asana has a consensus rating of “Hold” and an average target price 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.