Asana, Inc. (NYSE:ASAN – Get Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 9,090,000 shares, a decrease of 11.1% from the October 31st total of 10,220,000 shares. Based on an average trading volume of 2,610,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 12.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group assumed coverage on Asana in a research report on Thursday, October 12th. They issued a “neutral” rating and a $20.00 price target for the company. FBN Securities cut their target price on Asana from $28.00 to $23.00 in a research note on Tuesday, October 3rd. Piper Sandler lowered Asana from a “neutral” rating to an “underweight” rating and cut their target price for the company from $24.00 to $16.00 in a research note on Monday, October 23rd. HSBC began coverage on Asana in a research note on Friday, September 29th. They issued a “hold” rating and a $18.00 target price on the stock. Finally, JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Asana in a research note on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.00.

View Our Latest Report on ASAN

Insider Activity

In other news, CEO Dustin A. Moskovitz bought 80,000 shares of the stock in a transaction dated Monday, September 11th. The stock was purchased at an average cost of $20.39 per share, for a total transaction of $1,631,200.00. Following the transaction, the chief executive officer now owns 42,917,649 shares of the company’s stock, valued at $875,090,863.11. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Dustin A. Moskovitz purchased 237,015 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was bought at an average cost of $17.50 per share, for a total transaction of $4,147,762.50. Following the completion of the transaction, the chief executive officer now directly owns 47,898,436 shares in the company, valued at $838,222,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dustin A. Moskovitz purchased 80,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was bought at an average price of $20.39 per share, with a total value of $1,631,200.00. Following the completion of the transaction, the chief executive officer now owns 42,917,649 shares of the company’s stock, valued at $875,090,863.11. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,368,613 shares of company stock worth $60,879,233 and sold 67,815 shares worth $1,192,325. Corporate insiders own 63.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ASAN. Two Sigma Investments LP lifted its holdings in Asana by 780.0% in the first quarter. Two Sigma Investments LP now owns 1,498,311 shares of the company’s stock valued at $31,659,000 after acquiring an additional 1,328,050 shares during the period. Renaissance Technologies LLC lifted its holdings in Asana by 274.6% in the first quarter. Renaissance Technologies LLC now owns 1,493,500 shares of the company’s stock valued at $31,558,000 after acquiring an additional 1,094,800 shares during the period. Point72 Asset Management L.P. lifted its holdings in Asana by 106,674.6% in the second quarter. Point72 Asset Management L.P. now owns 1,094,440 shares of the company’s stock valued at $24,121,000 after acquiring an additional 1,093,415 shares during the period. Morgan Stanley lifted its holdings in Asana by 69.8% in the third quarter. Morgan Stanley now owns 2,141,221 shares of the company’s stock valued at $39,206,000 after acquiring an additional 880,413 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Asana by 145.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,412,438 shares of the company’s stock valued at $31,130,000 after acquiring an additional 837,383 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Stock Performance

Shares of Asana stock traded up $0.35 on Monday, reaching $22.81. 2,261,815 shares of the stock were exchanged, compared to its average volume of 2,714,433. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.14. Asana has a twelve month low of $11.32 and a twelve month high of $26.27. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -14.72 and a beta of 1.30. The business has a 50 day moving average price of $19.12 and a two-hundred day moving average price of $20.76.

Asana (NYSE:ASAN – Get Free Report) last released its earnings results on Tuesday, September 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. Asana had a negative return on equity of 87.79% and a negative net margin of 54.21%. The firm had revenue of $162.46 million during the quarter, compared to the consensus estimate of $157.91 million. During the same quarter in the previous year, the company posted ($0.59) earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. Analysts anticipate that Asana will post -1.34 earnings per share for the current fiscal year.

About Asana (Get Free Report)

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; and manages product launches, marketing campaigns, and organization-wide goal settings.

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Original: MarketBeat News Feed: Asana, Inc. (NYSE:ASAN) Short Interest Update