Anaplan Inc (NYSE:PLAN)’s share price dropped 7.7% on Monday . The stock traded as low as $36.32 and last traded at $36.69. Approximately 1,795,200 shares traded hands during mid-day trading, an increase of 92% from the average daily volume of 933,818 shares. The stock had previously closed at $39.75.
PLAN has been the topic of several analyst reports. Monness Crespi & Hardt initiated coverage on Anaplan in a research note on Monday, March 25th. They issued a “buy” rating and a $50.00 target price on the stock. SunTrust Banks increased their target price on Anaplan to $42.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Zacks Investment Research lowered Anaplan from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. Canaccord Genuity reissued a “buy” rating and issued a $40.00 target price on shares of Anaplan in a research note on Tuesday, February 26th. Finally, Barclays lowered Anaplan from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $30.00 to $32.00 in a research note on Friday, February 8th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Anaplan presently has an average rating of “Buy” and a consensus target price of $35.08.
The stock has a market capitalization of $4.64 billion and a P/E ratio of -22.08.
Anaplan (NYSE:PLAN) last released its quarterly earnings results on Monday, February 25th. The company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.02. The business had revenue of $69.30 million for the quarter, compared to analyst estimates of $63.71 million. The firm’s quarterly revenue was up 49.7% compared to the same quarter last year. Research analysts expect that Anaplan Inc will post -1.29 EPS for the current year.
In other news, insider Frank Calderoni sold 149,188 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $34.79, for a total transaction of $5,190,250.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO David Ying Xian Chung sold 1,720 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $35.45, for a total value of $60,974.00. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of the stock. Coatue Management LLC bought a new position in shares of Anaplan during the fourth quarter worth about $240,575,000. Meritech Capital Associates IV L.L.C. bought a new position in shares of Anaplan during the fourth quarter worth about $210,369,000. Salesforce Com Inc. bought a new position in shares of Anaplan during the fourth quarter worth about $79,105,000. Baillie Gifford & Co. bought a new position in shares of Anaplan during the fourth quarter worth about $49,673,000. Finally, HMI Capital LLC bought a new position in shares of Anaplan during the fourth quarter worth about $35,261,000. Institutional investors and hedge funds own 35.03% of the company’s stock.
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About Anaplan (NYSE:PLAN)
Anaplan, Inc provides a cloud-based connected planning platform. Its platform unites traditionally distinct or disconnected database structures, including relational, columnar, and online analytical processing with in-memory data storage and calculation that is used in various lines of business, such as finance, sales, supply chain, marketing, human resources, and operations.
Further Reading: Initial Public Offering (IPO)
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