Coatue Management LLC Decreases Stock Holdings in Anaplan, Inc. (NYSE:PLAN)

Coatue Management LLC decreased its position in Anaplan, Inc. (NYSE:PLAN) by 39.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,359,810 shares of the company’s stock after selling 2,151,602 shares during the quarter. Coatue Management LLC’s holdings in Anaplan were worth $179,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Anaplan by 3.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,586 shares of the company’s stock valued at $404,000 after buying an additional 230 shares during the period. First Trust Advisors LP increased its position in shares of Anaplan by 0.4% during the first quarter. First Trust Advisors LP now owns 104,734 shares of the company’s stock valued at $4,122,000 after buying an additional 387 shares during the period. Ieq Capital LLC increased its position in shares of Anaplan by 3.6% during the second quarter. Ieq Capital LLC now owns 11,491 shares of the company’s stock valued at $612,000 after buying an additional 397 shares during the period. Fifth Third Bancorp increased its position in shares of Anaplan by 100.0% during the second quarter. Fifth Third Bancorp now owns 800 shares of the company’s stock valued at $43,000 after buying an additional 400 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Anaplan by 8.9% during the first quarter. CIBC Asset Management Inc now owns 5,230 shares of the company’s stock valued at $282,000 after buying an additional 427 shares during the period. Hedge funds and other institutional investors own 91.18% of the company’s stock.

Several equities analysts recently issued reports on the stock. KeyCorp boosted their price target on shares of Anaplan from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, September 2nd. The Goldman Sachs Group boosted their price objective on shares of Anaplan from $59.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 1st. UBS Group assumed coverage on shares of Anaplan in a research note on Friday, October 1st. They set a “buy” rating and a $72.00 price objective on the stock. Monness Crespi & Hardt boosted their price objective on shares of Anaplan from $90.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, September 1st. Finally, JMP Securities boosted their price objective on shares of Anaplan from $82.00 to $87.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Anaplan currently has an average rating of “Buy” and an average target price of $78.96.

PLAN stock traded up $1.52 during midday trading on Thursday, reaching $65.19. 28,713 shares of the company’s stock traded hands, compared to its average volume of 2,132,617. Anaplan, Inc. has a 52-week low of $46.00 and a 52-week high of $86.17. The stock has a market cap of $9.53 billion, a P/E ratio of -51.86 and a beta of 1.99. The stock’s 50-day moving average is $62.01 and its 200 day moving average is $57.66.

Anaplan (NYSE:PLAN) last announced its quarterly earnings data on Monday, August 30th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.05. The firm had revenue of $144.32 million during the quarter, compared to analysts’ expectations of $133.80 million. Anaplan had a negative net margin of 35.47% and a negative return on equity of 64.29%. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. Sell-side analysts anticipate that Anaplan, Inc. will post -1.33 earnings per share for the current fiscal year.

In related news, CAO Gagan Dhingra sold 870 shares of the company’s stock in a transaction on Tuesday, September 14th. The shares were sold at an average price of $64.94, for a total transaction of $56,497.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO William Schuh sold 5,588 shares of the company’s stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $64.94, for a total transaction of $362,884.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 508,748 shares of company stock valued at $33,157,845. Corporate insiders own 5.20% of the company’s stock.

Anaplan Profile

Anaplan, Inc engages in the provision of cloud-based connected planning platform that connects organizations and people for decision making. 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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