Short Interest in Asana, Inc. (NYSE:ASAN) Rises By 17.1%

Asana, Inc. (NYSE:ASAN - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 13,740,000 shares, an increase of 17.1% from the April 15th total of 11,730,000 shares. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is currently 6.8 days. Approximately 16.7% of the company's shares are sold short.

Insider Buying and Selling at Asana

In other Asana news, CFO Tim M. Wan sold 10,105 shares of Asana stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $155,414.90. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Eleanor B. Lacey sold 5,387 shares of Asana stock in a transaction 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 completion of the transaction, the insider now owns 225,201 shares of the company's stock, valued at $3,481,607.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Tim M. Wan sold 10,105 shares of the company's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total transaction of $155,414.90. Following the sale, the chief financial officer now directly owns 753,888 shares in the company, valued at approximately $11,594,797.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,733 shares of company stock worth $788,886. 63.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asana

Several large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale bought a new position in Asana during the third quarter valued at $27,000. Allspring Global Investments Holdings LLC increased its holdings in Asana by 1,015.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company's stock worth $46,000 after acquiring an additional 2,294 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Asana by 26.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,225 shares of the company's stock valued at $61,000 after acquiring an additional 669 shares during the period. Headlands Technologies LLC purchased a new stake in Asana during the fourth quarter valued at about $147,000. Finally, Retirement Planning Co of New England Inc. bought a new position in Asana during the first quarter worth about $164,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Asana Stock Down 0.7 %

Shares of ASAN stock traded down $0.11 on Thursday, hitting $15.70. The stock had a trading volume of 1,015,055 shares, compared to its average volume of 1,931,585. 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 business has a 50 day moving average of $15.36 and a 200 day moving average of $17.90. Asana has a 12-month low of $13.34 and a 12-month high of $26.27. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -13.52 and a beta of 1.22.

Asana (NYSE:ASAN - Get Free Report) last posted 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 net margin of 39.39% and a negative return on equity of 75.22%. The firm had revenue of $171.14 million during the quarter, compared to analyst estimates of $167.59 million. As a group, analysts expect that Asana will post -1.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America started coverage on shares of Asana in a report on Monday, February 26th. They issued a "buy" rating and a $25.00 price target for the company. KeyCorp began coverage on Asana in a research note on Thursday, March 21st. They set an "underweight" rating and a $14.00 price target on the stock. Four analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.

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