Coatue Management LLC Cuts Stock Holdings in Anaplan Inc (NYSE:PLAN)

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Coatue Management LLC cut its stake in Anaplan Inc (NYSE:PLAN) by 22.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,632,084 shares of the company’s stock after selling 2,479,575 shares during the period. Anaplan comprises about 3.4% of Coatue Management LLC’s investment portfolio, making the stock its 10th largest position. Coatue Management LLC owned 6.30% of Anaplan worth $391,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Anaplan by 20.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,371,518 shares of the company’s stock worth $515,243,000 after purchasing an additional 1,911,348 shares during the period. Cadian Capital Management LP acquired a new stake in shares of Anaplan during the 2nd quarter worth approximately $66,832,000. Clearfield Capital Management LP acquired a new stake in shares of Anaplan during the 2nd quarter worth approximately $15,333,000. MANA Advisors LLC acquired a new stake in shares of Anaplan during the 2nd quarter worth approximately $209,000. Finally, FMR LLC grew its stake in shares of Anaplan by 135.8% during the 2nd quarter. FMR LLC now owns 3,689,769 shares of the company’s stock worth $167,183,000 after purchasing an additional 2,124,926 shares during the period. Hedge funds and other institutional investors own 94.74% of the company’s stock.

In other Anaplan news, insider Gagan Dhingra sold 1,921 shares of Anaplan stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $44.81, for a total value of $86,080.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank Calderoni sold 215,000 shares of Anaplan stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.06, for a total transaction of $13,342,900.00. Following the completion of the sale, the chief executive officer now directly owns 834,662 shares of the company’s stock, valued at $51,799,123.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 533,832 shares of company stock worth $28,102,599. 7.30% of the stock is owned by company insiders.

Shares of PLAN stock traded down $0.37 during mid-day trading on Friday, hitting $58.32. 2,283,300 shares of the stock traded hands, compared to its average volume of 3,586,705. Anaplan Inc has a twelve month low of $26.04 and a twelve month high of $63.71. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of -54.00 and a beta of 2.06. The company’s 50-day simple moving average is $48.36 and its 200-day simple moving average is $44.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.49 and a current ratio of 1.49.

Anaplan (NYSE:PLAN) last issued its quarterly earnings results on Wednesday, August 26th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.08. The company had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $103.49 million. Anaplan had a negative return on equity of 45.90% and a negative net margin of 36.81%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. Analysts forecast that Anaplan Inc will post -1.05 earnings per share for the current year.

A number of research analysts have recently issued reports on the company. FBN Securities increased their target price on Anaplan from $55.00 to $70.00 in a research report on Wednesday, August 26th. Wells Fargo & Co lowered Anaplan from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $55.00 to $50.00 in a research report on Wednesday, May 20th. Royal Bank of Canada increased their target price on Anaplan from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Needham & Company LLC increased their target price on Anaplan from $55.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Finally, Mizuho increased their target price on Anaplan from $58.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.76.

Anaplan Profile

Anaplan, Inc engages in the provision of cloud-based connected planning platform that helps connect organizations and people to make better and faster decisions. It also offers professional services, including consulting, implementation, and training. The company was founded by Michael Gould, John David Guy Haddleton, and Sue Haddleton in 2006 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Anaplan (NYSE:PLAN)

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