Anaplan Target of Unusually High Options Trading (NYSE:PLAN)

Anaplan, Inc. (NYSE:PLAN) was the target of some unusual options trading on Tuesday. Stock traders bought 6,237 call options on the company. This represents an increase of approximately 150% compared to the average volume of 2,494 call options.

PLAN stock traded down $2.44 on Tuesday, reaching $55.11. The company’s stock had a trading volume of 19,057 shares, compared to its average volume of 2,477,407. Anaplan has a 52 week low of $36.49 and a 52 week high of $86.17. The company has a market capitalization of $7.97 billion, a P/E ratio of -51.31 and a beta of 2.05. The firm has a fifty day moving average of $57.48 and a two-hundred day moving average of $65.70.

Anaplan (NYSE:PLAN) last issued its quarterly earnings data on Wednesday, February 24th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Anaplan had a negative return on equity of 47.60% and a negative net margin of 35.09%. The business had revenue of $122.53 million during the quarter, compared to analyst estimates of $119.05 million. Research analysts anticipate that Anaplan will post -1.03 earnings per share for the current fiscal year.

In other news, CEO Frank Calderoni sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $60.26, for a total value of $2,711,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,344,485 shares of the company’s stock, valued at approximately $81,018,666.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sandesh Kaveripatnam sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $79.09, for a total value of $949,080.00. Following the completion of the sale, the director now directly owns 60,041 shares of the company’s stock, valued at $4,748,642.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,494 shares of company stock worth $12,375,400. Company insiders own 7.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc bought a new position in Anaplan in the 4th quarter worth approximately $102,000. Adalta Capital Management LLC bought a new position in Anaplan during the 4th quarter valued at $144,000. Evolution Wealth Advisors LLC boosted its stake in Anaplan by 27.8% during the 1st quarter. Evolution Wealth Advisors LLC now owns 2,534 shares of the company’s stock valued at $136,000 after purchasing an additional 551 shares in the last quarter. Meitav Dash Investments Ltd. bought a new position in Anaplan during the 4th quarter valued at $203,000. Finally, State of Alaska Department of Revenue bought a new position in Anaplan during the 1st quarter valued at $167,000. 95.92% of the stock is owned by institutional investors and hedge funds.

PLAN has been the subject of several research reports. Wolfe Research assumed coverage on Anaplan in a report on Wednesday, April 28th. They set an “outperform” rating and a $72.00 price objective for the company. Morgan Stanley raised Anaplan from an “equal weight” rating to an “overweight” rating and set a $100.00 price objective for the company in a research report on Tuesday, February 16th. Barclays lifted their price objective on Anaplan from $71.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, February 25th. Wells Fargo & Company raised Anaplan from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $85.00 in a research report on Tuesday, January 5th. Finally, Zacks Investment Research downgraded Anaplan from a “hold” rating to a “sell” rating in a research report on Wednesday, April 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $76.68.

About Anaplan

Anaplan, Inc provides a cloud-based connected planning platform to connect organizations and people. Its platform in-memory data storage and calculation capabilities deliver calculations of data in real time and provide a single source of information for planning, ensuring the consistency, quality, and integrity of the data that is used in various areas of an organization, such as finance, sales, supply chain, marketing, human resources, and operations.

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