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

Asana, Inc. (NYSE:ASAN) saw a large drop in short interest in 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. Approximately 14.1% of the shares of the stock are short sold. Based on an average trading volume of 1,990,000 shares, the days-to-cover ratio is currently 5.6 days.

Asana Stock Down 1.6 %

NYSE ASAN traded down $0.22 during trading hours on Tuesday, hitting $13.64. The company’s stock had a trading volume of 299,926 shares, 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 company’s 50-day simple moving average is $17.10 and its two-hundred day simple moving average is $18.38. Asana has a 52 week low of $13.43 and a 52 week high of $26.27.

Asana (NYSE:ASAN) last announced its earnings results on Monday, March 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. The company had revenue of $171.14 million for the quarter, compared to analysts’ expectations of $167.59 million. Asana had a negative return on equity of 75.22% and a negative net margin of 39.39%. Equities analysts expect that Asana will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, insider Eleanor B. Lacey sold 4,462 shares of Asana stock in a transaction on Monday, April 1st. The shares were sold at an average price of $15.47, for a total transaction of $69,027.14. Following the transaction, the insider now owns 220,739 shares in the company, valued at $3,414,832.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Eleanor B. Lacey sold 4,462 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the transaction, the insider now directly owns 220,739 shares of the company’s stock, valued at approximately $3,414,832.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eleanor B. Lacey sold 5,387 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $15.46, for a total value of $83,283.02. Following the completion of 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 have sold 31,733 shares of company stock worth $488,886 in the last 90 days. Insiders own 63.26% of the company’s stock.

Institutional Trading of Asana

Several institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC grew its position in Asana by 117.7% in the 3rd quarter. Lazard Asset Management LLC now owns 1,463 shares of the company’s stock worth $26,000 after purchasing an additional 791 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Asana in the 3rd quarter worth approximately $27,000. FMR LLC grew its holdings in shares of Asana by 120.4% in the second quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after acquiring an additional 862 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Asana by 765.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,829 shares of the company’s stock valued at $39,000 after acquiring an additional 2,502 shares during the last quarter. Finally, KBC Group NV bought a new stake in Asana during the fourth quarter worth $41,000. Institutional investors own 26.21% of the company’s stock.

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.