Asana, Inc. (NYSE:ASAN) Short Interest Up 19.2% in December

Asana, Inc. (NYSE:ASAN) was the target of a large 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. Approximately 14.8% of the shares of the stock are sold short. Based on an average daily volume of 3,180,000 shares, the days-to-cover ratio is presently 3.9 days.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ASAN shares. Citigroup increased 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. Jefferies Financial Group increased their target price on shares of Asana from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. DA Davidson increased their target price on shares of Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. JMP Securities increased their target price on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Finally, Oppenheimer upped their price objective on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.73.

Insider Buying and Selling

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

Hedge Funds Weigh In On Asana

A number of large investors have recently modified their holdings of the company. KBC Group NV lifted its position in Asana by 52.1% during the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the last quarter. Quest Partners LLC bought a new stake in Asana during the third quarter valued at approximately $43,000. Benjamin F. Edwards & Company Inc. lifted its position in Asana by 139.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock valued at $93,000 after purchasing an additional 3,885 shares during the last quarter. MQS Management LLC bought a new stake in Asana during the third quarter valued at approximately $141,000. Finally, Paloma Partners Management Co bought a new stake in Asana during the third quarter valued at approximately $143,000. 26.21% of the stock is currently owned by institutional investors.

Asana Price Performance

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

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.