Sandesh Kaveripatnam Sells 12,000 Shares of Anaplan, Inc. (NYSE:PLAN) Stock

Anaplan, Inc. (NYSE:PLAN) Director Sandesh Kaveripatnam sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $67.01, for a total value of $804,120.00. Following the sale, the director now directly owns 90,318 shares of the company’s stock, valued at $6,052,209.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE PLAN opened at $62.14 on Friday. The stock has a market cap of $8.69 billion, a PE ratio of -57.54 and a beta of 2.02. Anaplan, Inc. has a fifty-two week low of $26.04 and a fifty-two week high of $67.86. The stock has a fifty day moving average of $61.06 and a 200-day moving average of $51.99.

Anaplan (NYSE:PLAN) last announced its quarterly earnings results on Wednesday, August 26th. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.08. The company had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $103.49 million. Anaplan had a negative return on equity of 46.17% and a negative net margin of 36.81%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. Analysts predict that Anaplan, Inc. will post -1.05 EPS for the current fiscal year.

A number of brokerages recently commented on PLAN. FBN Securities increased their price target on Anaplan from $55.00 to $70.00 in a research report on Wednesday, August 26th. Piper Sandler downgraded Anaplan from an “overweight” rating to a “neutral” rating in a research report on Wednesday, August 26th. Needham & Company LLC increased their price target on Anaplan from $55.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Loop Capital increased their price target on Anaplan from $35.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, August 27th. Finally, JMP Securities raised their target price on Anaplan from $55.00 to $63.00 in a research report on Thursday, August 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Anaplan presently has a consensus rating of “Buy” and a consensus target price of $60.83.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Anaplan during the third quarter valued at $53,000. Global Wealth Management Investment Advisory Inc. boosted its stake in Anaplan by 289.6% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 1,383 shares of the company’s stock valued at $63,000 after buying an additional 1,028 shares during the period. CWM LLC boosted its stake in Anaplan by 7,677.8% during the second quarter. CWM LLC now owns 1,400 shares of the company’s stock valued at $63,000 after buying an additional 1,382 shares during the period. US Bancorp DE boosted its stake in Anaplan by 31.3% during the second quarter. US Bancorp DE now owns 1,907 shares of the company’s stock valued at $86,000 after buying an additional 455 shares during the period. Finally, Private Advisor Group LLC bought a new stake in Anaplan during the second quarter valued at $96,000. Institutional investors own 94.74% of the company’s stock.

Anaplan Company Profile

Anaplan, Inc provides a cloud-based connected planning platform to connect organizations and people. 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 connecting various areas of an organization, such as finance, sales, supply chain, marketing, human resources, and operations.

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