Anaplan Inc (NYSE:PLAN) Director Sells $24,512,400.00 in Stock

Anaplan Inc (NYSE:PLAN) Director Sandesh Kaveripatnam sold 495,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $49.52, for a total value of $24,512,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of PLAN stock traded down $0.37 during trading on Friday, reaching $56.54. The company had a trading volume of 1,056,845 shares, compared to its average volume of 2,031,881. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $50.73. The firm has a market cap of $7.30 billion and a P/E ratio of -32.87. Anaplan Inc has a one year low of $20.37 and a one year high of $58.46.

Anaplan (NYSE:PLAN) last issued its quarterly earnings results on Tuesday, May 28th. The company reported ($0.16) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.18. The business had revenue of $75.80 million during the quarter, compared to the consensus estimate of $70.66 million. The firm’s quarterly revenue was up 46.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Anaplan Inc will post -1.15 earnings per share for the current year.

PLAN has been the subject of a number of research reports. Macquarie initiated coverage on Anaplan in a research report on Monday, July 15th. They set an “outperform” rating and a $65.00 price objective for the company. JMP Securities raised their price objective on Anaplan from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. Barclays lifted their price target on Anaplan from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, May 29th. They noted that the move was a valuation call. KeyCorp reiterated a “hold” rating on shares of Anaplan in a report on Tuesday, May 28th. Finally, Goldman Sachs Group lowered Anaplan from a “buy” rating to a “neutral” rating and set a $53.20 price target for the company. in a report on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $45.40.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Anaplan by 1.3% during the first quarter. Rhumbline Advisers now owns 24,549 shares of the company’s stock valued at $966,000 after purchasing an additional 324 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 purchasing an additional 387 shares during the period. Advisory Services Network LLC bought a new stake in shares of Anaplan during the first quarter valued at approximately $39,000. Neuburgh Advisers LLC bought a new stake in shares of Anaplan during the fourth quarter valued at approximately $27,000. Finally, Evolution Wealth Advisors LLC bought a new stake in shares of Anaplan during the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 35.05% of the company’s stock.

About Anaplan

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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