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

Asana, Inc. (NYSE:ASAN) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 11,180,000 shares, a decrease of 5.7% from the March 15th total of 11,860,000 shares. Approximately 14.1% of the shares of the stock are sold short. Based on an average daily volume of 1,990,000 shares, the short-interest ratio is presently 5.6 days.

Asana Stock Performance

NYSE:ASAN traded down $0.22 during trading hours on Tuesday, hitting $13.64. 299,926 shares of the company traded hands, compared to its average volume of 1,967,247. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a 50-day moving average of $17.10 and a 200 day moving average of $18.38. Asana has a twelve month low of $13.43 and a twelve month high of $26.27.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Monday, March 11th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. The company had revenue of $171.14 million for the quarter, compared to analyst estimates of $167.59 million. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. On average, sell-side analysts expect that Asana will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Eleanor B. Lacey sold 4,462 shares of Asana stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the transaction, the insider now directly owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Asana news, insider Eleanor B. Lacey sold 4,462 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the sale, the insider now directly owns 220,739 shares of the company’s stock, valued at $3,414,832.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eleanor B. Lacey sold 5,387 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $15.46, for a total transaction of $83,283.02. Following the sale, the insider now owns 225,201 shares in the company, valued at approximately $3,481,607.46. The disclosure for this sale can be found here. Insiders sold 31,733 shares of company stock worth $488,886 over the last ninety days. Company insiders own 63.26% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its holdings in shares of Asana by 117.7% during the third quarter. Lazard Asset Management LLC now owns 1,463 shares of the company’s stock valued at $26,000 after acquiring an additional 791 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Asana during the third quarter worth approximately $27,000. FMR LLC boosted its holdings in shares of Asana by 120.4% in the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock worth $28,000 after acquiring an additional 862 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Asana by 765.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,829 shares of the company’s stock worth $39,000 after acquiring an additional 2,502 shares during the last quarter. Finally, KBC Group NV acquired a new stake in Asana during the 4th quarter valued at $41,000. 26.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

ASAN has been the subject of a number of research analyst reports. Piper Sandler increased their target price on shares of Asana from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Bank of America started coverage on Asana in a research note on Monday, February 26th. They issued a “buy” rating and a $25.00 price target for the company. Finally, KeyCorp began coverage on Asana in a report on Thursday, March 21st. They set an “underweight” rating and a $14.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Asana has a consensus rating of “Hold” and an average target price of $20.67.

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.