Titan Global Capital Management USA LLC Raises Stake in Anaplan, Inc. (NYSE:PLAN)

Titan Global Capital Management USA LLC raised its holdings in Anaplan, Inc. (NYSE:PLAN) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,257 shares of the company’s stock after purchasing an additional 15,309 shares during the period. Titan Global Capital Management USA LLC owned about 0.07% of Anaplan worth $5,024,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Anaplan by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,288,210 shares of the company’s stock worth $654,961,000 after buying an additional 55,317 shares during the last quarter. FMR LLC grew its stake in shares of Anaplan by 92.3% in the second quarter. FMR LLC now owns 11,085,764 shares of the company’s stock worth $590,871,000 after purchasing an additional 5,319,915 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Anaplan by 19.9% in the second quarter. JPMorgan Chase & Co. now owns 4,197,166 shares of the company’s stock worth $223,712,000 after purchasing an additional 696,072 shares in the last quarter. Cadian Capital Management LP grew its stake in shares of Anaplan by 58.1% in the second quarter. Cadian Capital Management LP now owns 3,135,434 shares of the company’s stock worth $167,119,000 after purchasing an additional 1,152,739 shares in the last quarter. Finally, Steadfast Capital Management LP grew its stake in shares of Anaplan by 6.3% in the first quarter. Steadfast Capital Management LP now owns 3,132,418 shares of the company’s stock worth $168,681,000 after purchasing an additional 185,946 shares in the last quarter. Hedge funds and other institutional investors own 91.18% of the company’s stock.

PLAN has been the subject of several research reports. Berenberg Bank raised their target price on Anaplan from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 1st. The Goldman Sachs Group raised their target price on Anaplan from $59.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, September 1st. Piper Sandler raised their target price on Anaplan from $67.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, September 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $80.00 target price on shares of Anaplan in a research note on Wednesday, September 1st. Finally, Truist Securities raised their target price on Anaplan from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, September 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Anaplan has a consensus rating of “Buy” and a consensus target price of $78.96.

Shares of NYSE:PLAN traded down $0.82 during mid-day trading on Wednesday, reaching $64.62. The company had a trading volume of 14,946 shares, compared to its average volume of 2,079,592. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of -51.94 and a beta of 1.99. The company’s 50-day moving average price is $62.48 and its 200-day moving average price is $57.98. Anaplan, Inc. has a one year low of $46.00 and a one year high of $86.17.

Anaplan (NYSE:PLAN) last released its quarterly earnings results on Monday, August 30th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.05. Anaplan had a negative net margin of 35.47% and a negative return on equity of 64.29%. The firm had revenue of $144.32 million during the quarter, compared to analyst estimates of $133.80 million. During the same period in the previous year, the business earned ($0.04) EPS. The business’s revenue for the quarter was up 35.5% on a year-over-year basis. On average, equities analysts expect that Anaplan, Inc. will post -1.33 EPS for the current fiscal year.

In other Anaplan news, CAO Gagan Dhingra sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frank Calderoni sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $55.28, for a total transaction of $2,487,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 508,748 shares of company stock valued at $33,157,845. Insiders own 5.20% of the company’s stock.

Anaplan Company 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.

Further Reading: Key terms to understand channel trading

Institutional Ownership by Quarter for Anaplan (NYSE:PLAN)

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.