Asana, Inc. (NYSE:ASAN) Short Interest Down 13.9% in February

Asana, Inc. (NYSE:ASAN - Get Free Report) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 11,480,000 shares, a decrease of 13.9% from the February 13th total of 13,340,000 shares. Based on an average daily trading volume, of 4,100,000 shares, the short-interest ratio is currently 2.8 days. Currently, 13.6% of the company's stock are short sold.

Insider Transactions at Asana

In related news, Director Justin Rosenstein sold 200,000 shares of the business's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $21.67, for a total transaction of $4,334,000.00. Following the transaction, the director now directly owns 1,847,309 shares in the company, valued at approximately $40,031,186.03. The trade was a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was purchased at an average price of $14.34 per share, with a total value of $3,226,500.00. Following the purchase, the chief executive officer now owns 49,023,436 shares of the company's stock, valued at approximately $702,996,072.24. The trade was a 0.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 675,000 shares of company stock worth $9,285,750 and sold 721,067 shares worth $14,892,089. Company insiders own 63.97% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Brooklyn FI LLC acquired a new position in Asana in the fourth quarter valued at about $8,138,000. Vise Technologies Inc. raised its position in shares of Asana by 6.5% in the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock valued at $320,000 after buying an additional 959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Asana by 12.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,025 shares of the company's stock worth $4,582,000 after acquiring an additional 25,607 shares during the period. Voloridge Investment Management LLC boosted its position in shares of Asana by 25.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock worth $43,574,000 after acquiring an additional 438,057 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Asana during the 4th quarter worth approximately $1,745,000. Institutional investors own 26.21% of the company's stock.

Asana Price Performance

Asana stock traded up $0.44 during mid-day trading on Friday, reaching $14.44. 4,062,938 shares of the company were exchanged, compared to its average volume of 2,578,045. The firm has a market cap of $3.30 billion, a PE ratio of -12.89 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. The company has a fifty day simple moving average of $19.39 and a 200-day simple moving average of $16.83. Asana has a 12 month low of $11.05 and a 12 month high of $27.77.

Analyst Ratings Changes

A number of research firms have recently issued reports on ASAN. Morgan Stanley cut their price objective on Asana from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Jefferies Financial Group cut their price target on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, March 11th. Royal Bank of Canada reiterated an "underperform" rating and issued a $10.00 price objective on shares of Asana in a report on Friday, December 6th. JMP Securities set a $22.00 target price on shares of Asana in a research note on Tuesday, March 11th. Finally, DA Davidson decreased their price target on shares of Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $15.67.

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.