Short Interest in Asana, Inc. (NYSE:ASAN) Grows By 40.7%

Asana, Inc. (NYSE:ASAN) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 10,300,000 shares, a growth of 40.7% from the November 30th total of 7,320,000 shares. Based on an average daily volume of 2,960,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 12.5% of the shares of the company are short sold.

Insider Buying and Selling

In related news, COO Anne Raimondi sold 27,233 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total transaction of $591,228.43. Following the sale, the chief operating officer now owns 733,855 shares in the company, valued at $15,931,992.05. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 63.97% of the stock is currently owned by company insiders.

Institutional Trading of Asana

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after acquiring an additional 12,055 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Asana in the second quarter worth $17,100,000. JPMorgan Chase & Co. increased its position in Asana by 105.6% during the third quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock worth $9,650,000 after buying an additional 427,576 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Asana during the second quarter valued at about $5,169,000. Finally, Holocene Advisors LP lifted its position in shares of Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after buying an additional 116,998 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price target on shares of Asana from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Morgan Stanley increased their price objective on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Citigroup reduced their price target on Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, UBS Group lowered their price target on Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Asana has an average rating of “Hold” and a consensus target price of $16.53.

Asana Stock Down 4.4 %

ASAN stock traded down $0.96 during midday trading on Monday, reaching $20.63. The company had a trading volume of 2,608,451 shares, compared to its average volume of 2,325,371. The company has a 50 day moving average of $16.89 and a two-hundred day moving average of $14.30. 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 1 year low of $11.05 and a 1 year high of $27.77. The company has a market capitalization of $4.72 billion, a P/E ratio of -18.42 and a beta of 1.22.

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.