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

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

Wall Street Analysts Forecast Growth

ASAN has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Asana from $13.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Jefferies Financial Group lifted their target price on shares of Asana from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Morgan Stanley increased their price target on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. JMP Securities boosted their price objective on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th. Finally, DA Davidson increased their target price on Asana from $13.00 to $20.00 and gave the stock a “neutral” 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 issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.73.

Insider Transactions at Asana

In related news, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.71, for a total transaction of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at approximately $15,931,992.05. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Several hedge funds have recently added to or reduced their stakes in ASAN. Geode Capital Management LLC lifted its stake in Asana by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after purchasing an additional 12,055 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Asana during the 2nd quarter worth approximately $17,100,000. JPMorgan Chase & Co. boosted its holdings in Asana by 105.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,598 shares of the company’s stock valued at $9,650,000 after acquiring an additional 427,576 shares during the period. Cubist Systematic Strategies LLC bought a new position in Asana in the 2nd quarter valued at $5,169,000. Finally, Holocene Advisors LP increased its stake in Asana by 62.2% in the third quarter. Holocene Advisors LP now owns 305,167 shares of the company’s stock worth $3,537,000 after purchasing an additional 116,998 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Asana Trading Down 2.1 %

ASAN traded down $0.43 during trading on Friday, reaching $19.40. The company had a trading volume of 3,061,601 shares, compared to its average volume of 3,763,506. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. The stock has a market cap of $4.44 billion, a P/E ratio of -17.32 and a beta of 1.10. 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 50 day simple moving average of $19.09 and a 200-day simple moving average of $15.05.

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.