Asana, Inc. (NYSE:ASAN) Short Interest Up 19.2% in December

Asana, Inc. (NYSE:ASAN) was the target of a significant growth in short interest in 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. Approximately 14.8% of the company’s stock are short sold. Based on an average daily volume of 3,180,000 shares, the short-interest ratio is presently 3.9 days.

Asana Stock Down 2.1 %

Asana stock traded down $0.43 during mid-day trading on Friday, reaching $19.40. The company’s stock had a trading volume of 3,061,601 shares, compared to its average volume of 3,763,506. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of -17.32 and a beta of 1.10. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The business’s 50 day simple moving average is $19.09 and its 200 day simple moving average is $15.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Wall Street Analysts Forecast Growth

ASAN has been the topic of several recent analyst reports. Oppenheimer boosted their target price on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a report on Friday, December 6th. Robert W. Baird boosted their target price on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup boosted their target price on Asana from $16.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, JMP Securities lifted their price target on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Asana presently has an average rating of “Hold” and an average target price of $17.73.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 27,233 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 63.97% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds have recently modified their holdings of ASAN. Point72 Asset Management L.P. bought a new position in Asana in the 2nd quarter valued at about $17,100,000. JPMorgan Chase & Co. increased its holdings in Asana by 105.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after buying an additional 427,576 shares during the period. Cubist Systematic Strategies LLC bought a new position in Asana in the 2nd quarter valued at about $5,169,000. Marshall Wace LLP bought a new position in Asana in the 2nd quarter valued at about $3,159,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Asana in the 2nd quarter valued at about $3,050,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

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.