Short Interest in Asana, Inc. (NYSE:ASAN) Increases By 19.2%

Asana, Inc. (NYSE:ASAN) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 12,280,000 shares, a growth of 19.2% from the December 15th total of 10,300,000 shares. Based on an average daily trading volume, of 3,180,000 shares, the short-interest ratio is presently 3.9 days. Currently, 14.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Oppenheimer upped their price objective on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Citigroup upped their price target on shares of Asana from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday. JMP Securities raised their price objective on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Piper Sandler upgraded Asana from a “neutral” rating to an “overweight” rating and increased their target price for the company from $19.00 to $27.00 in a report on Monday, January 6th. Finally, Scotiabank lifted their price target on Asana from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus target price of $17.73.

Asana Stock Down 2.1 %

ASAN traded down $0.43 on Friday, hitting $19.40. The company had a trading volume of 3,061,601 shares, compared to its average volume of 3,763,506. The stock has a fifty day simple moving average of $19.09 and a 200-day simple moving average of $15.05. 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 firm has a market capitalization of $4.44 billion, a P/E ratio of -17.32 and a beta of 1.10. Asana has a 52-week low of $11.05 and a 52-week high of $27.77.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 27,233 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 63.97% of the company’s stock.

Institutional Investors Weigh In On Asana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. KBC Group NV grew its holdings in Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC bought a new position in Asana during the 3rd quarter valued at approximately $43,000. Benjamin F. Edwards & Company Inc. raised its stake 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 buying an additional 3,885 shares during the last quarter. MQS Management LLC bought a new stake in Asana in the third quarter worth $141,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Asana in the third quarter worth $143,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

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.