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

Asana, Inc. (NYSE:ASAN - Get Free Report) was the target of a significant growth in short interest during the month of 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. Approximately 11.0% of the company's shares are short sold. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is currently 5.0 days.

Analyst Upgrades and Downgrades

ASAN has been the subject of a number of research reports. KeyCorp decreased their target price on Asana from $12.00 to $10.00 and set an "underweight" rating for the company in a research note on Wednesday, September 4th. UBS Group dropped their target price on Asana from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $10.00 price target on shares of Asana in a report on Wednesday, October 23rd. Morgan Stanley lowered their price objective on shares of Asana from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 20th. Finally, Scotiabank started coverage on shares of Asana in a report on Monday. They set a "sector perform" rating and a $15.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $14.27.

Insider Transactions at Asana

In other Asana news, COO Anne Raimondi sold 29,807 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the transaction, the chief operating officer now directly owns 761,088 shares of the company's stock, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of Asana stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $58,678.83. Following the sale, the insider now directly owns 370,333 shares in the company, valued at approximately $4,366,226.07. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock worth $527,668 over the last quarter. 63.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in ASAN. Swiss National Bank raised its holdings in shares of Asana by 2.3% during the first quarter. Swiss National Bank now owns 162,300 shares of the company's stock worth $2,514,000 after acquiring an additional 3,600 shares during the period. ProShare Advisors LLC grew its position in Asana by 12.1% in the first quarter. ProShare Advisors LLC now owns 15,838 shares of the company's stock valued at $245,000 after purchasing an additional 1,710 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Asana by 9.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,863 shares of the company's stock valued at $385,000 after acquiring an additional 2,170 shares during the period. Vanguard Group Inc. grew its position in shares of Asana by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 9,326,145 shares of the company's stock valued at $144,462,000 after acquiring an additional 490,823 shares during the period. Finally, Champlain Investment Partners LLC grew its position in shares of Asana by 26.9% in the 1st quarter. Champlain Investment Partners LLC now owns 4,032,035 shares of the company's stock valued at $62,456,000 after acquiring an additional 854,355 shares during the period. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Stock Up 0.1 %

Shares of ASAN traded up $0.01 during trading hours on Tuesday, reaching $13.82. 595,522 shares of the company traded hands, compared to its average volume of 1,984,886. The stock's fifty day moving average is $12.32 and its 200 day moving average is $13.26. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. Asana has a 1-year low of $11.05 and a 1-year high of $23.44.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The business had revenue of $179.21 million for the quarter, compared to analysts' expectations of $177.68 million. During the same period in the prior year, the firm earned ($0.31) earnings per share. Asana's revenue was up 10.3% compared to the same quarter last year. Equities research analysts forecast that Asana will post -1.14 earnings per share for the current fiscal year.

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.

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