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

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

Asana Stock Performance

Shares of ASAN opened at $13.71 on Thursday. Asana has a one year low of $13.43 and a one year high of $26.27. The company has a market cap of $3.08 billion, a PE ratio of -11.72 and a beta of 1.22. The stock has a 50-day moving average of $16.92 and a 200-day moving average of $18.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.80 and a quick ratio of 1.80.

Asana (NYSE:ASAN) last released its quarterly earnings data on Monday, March 11th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.06. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. The firm had revenue of $171.14 million during the quarter, compared to the consensus estimate of $167.59 million. On average, equities research analysts predict that Asana will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In other news, insider Eleanor B. Lacey sold 4,462 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $15.47, for a total value of $69,027.14. Following the completion of the transaction, the insider now 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 accessible through this link. In related news, CFO Tim M. Wan sold 10,105 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $155,414.90. Following the completion of the transaction, the chief financial officer now directly owns 753,888 shares of the company’s stock, valued at approximately $11,594,797.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $69,027.14. Following the transaction, the insider now directly owns 220,739 shares in the company, valued at $3,414,832.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,733 shares of company stock worth $488,886. 63.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale bought a new position in Asana in the 3rd quarter valued at about $27,000. Lazard Asset Management LLC boosted its position 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 buying an additional 791 shares during the last quarter. FMR LLC grew its holdings in Asana by 120.4% during the second quarter. FMR LLC now owns 1,578 shares of the company’s stock worth $28,000 after buying an additional 862 shares in the last quarter. KBC Group NV purchased a new stake in Asana in the 4th quarter valued at $41,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Asana by 1,015.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company’s stock valued at $46,000 after acquiring an additional 2,294 shares in the last quarter. 26.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ASAN shares. KeyCorp started coverage on Asana in a research note on Thursday, March 21st. They issued an “underweight” rating and a $14.00 price objective on the stock. Piper Sandler boosted their price target 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. Finally, Bank of America started coverage on shares of Asana in a research report on Monday, February 26th. They set a “buy” rating and a $25.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Asana has an average rating of “Hold” and a consensus price target of $20.67.

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.