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

Asana, Inc. (NYSE:ASAN) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 11,480,000 shares, a drop of 13.9% from the February 13th total of 13,340,000 shares. Based on an average daily volume of 4,100,000 shares, the short-interest ratio is presently 2.8 days. Currently, 13.6% of the shares of the company are sold short.

Insider Activity at Asana

In other news, Director Justin Rosenstein sold 25,000 shares of Asana stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the director now directly owns 922,309 shares in the company, valued at approximately $11,888,563.01. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of Asana stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price of $14.34 per share, with a total value of $3,226,500.00. Following the completion of the transaction, the chief executive officer now owns 49,023,436 shares in the company, valued at approximately $702,996,072.24. This trade represents a 0.46 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 675,000 shares of company stock worth $9,285,750 and sold 721,067 shares worth $14,892,089. 63.97% of the stock is owned by insiders.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vise Technologies Inc. increased its holdings in shares of Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company’s stock worth $320,000 after buying an additional 959 shares during the last quarter. KBC Group NV increased its holdings in shares of Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock worth $41,000 after buying an additional 1,211 shares during the last quarter. Quarry LP acquired a new stake in shares of Asana during the 4th quarter worth $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Asana by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,218 shares of the company’s stock worth $937,000 after buying an additional 2,538 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Asana by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 49,483 shares of the company’s stock worth $1,003,000 after buying an additional 2,668 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

Asana Trading Down 1.9 %

ASAN stock opened at $14.00 on Friday. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -12.50 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $19.49 and a 200-day simple moving average of $16.81. Asana has a 52 week low of $11.05 and a 52 week high of $27.77.

Wall Street Analyst Weigh In

ASAN has been the subject of a number of research reports. Oppenheimer lifted their price target on shares of Asana from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on Asana from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird reduced their target price on Asana from $23.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. UBS Group reduced their target price on Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Piper Sandler reduced their target price on Asana from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Asana presently has an average rating of “Hold” and a consensus price target of $15.67.

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.