Anaplan (PLAN) Shares Down 7.7%

Share on StockTwits

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.

COPYRIGHT VIOLATION WARNING: “Anaplan (PLAN) Shares Down 7.7%” was first posted by Equities Focus and is owned by of Equities Focus. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.equitiesfocus.com/2019/05/16/anaplan-plan-shares-down-7-7.html.

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)

Receive News & Ratings for Anaplan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anaplan and related companies with MarketBeat.com's FREE daily email newsletter.