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

Asana, Inc. (NYSE:ASAN - Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 12,280,000 shares, a growth of 19.2% from the December 31st total of 10,300,000 shares. Based on an average daily volume of 3,180,000 shares, the days-to-cover ratio is currently 3.9 days. Approximately 14.8% of the company's shares are sold short.

Asana Stock Performance

Shares of NYSE:ASAN traded up $0.25 on Wednesday, reaching $22.18. The company's stock had a trading volume of 2,138,526 shares, compared to its average volume of 3,202,162. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana has a 52-week low of $11.05 and a 52-week high of $27.77. The stock's 50-day moving average is $20.59 and its two-hundred day moving average is $15.65. The stock has a market capitalization of $5.07 billion, a P/E ratio of -19.80 and a beta of 1.11.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 27,233 shares of the business'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 completion of the transaction, the chief operating officer now owns 733,855 shares in the company, valued at $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Justin Rosenstein sold 200,000 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $21.67, for a total value of $4,334,000.00. Following the sale, the director now directly owns 1,847,309 shares in the company, valued at $40,031,186.03. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 377,233 shares of company stock valued at $7,926,728. 63.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Asana

Institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC purchased a new position in Asana in the 4th quarter valued at approximately $61,000. KBC Group NV increased its position in shares of Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company's stock valued at $41,000 after buying an additional 1,211 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Asana in the 3rd quarter worth about $43,000. TruNorth Capital Management LLC acquired a new stake in Asana in the 4th quarter valued at about $163,000. Finally, Empirical Asset Management LLC purchased a new position in Asana during the 4th quarter valued at about $218,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ASAN shares. Scotiabank raised their price objective on shares of Asana from $15.00 to $18.00 and gave the company a "sector perform" rating in a report on Friday, December 6th. Morgan Stanley raised their price target on Asana from $14.00 to $18.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on Asana from $13.00 to $15.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. Oppenheimer raised their target price on Asana from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and issued a $10.00 price target on shares of Asana in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $17.73.

Asana Company Profile

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.