Sumitomo Mitsui Trust Holdings Inc. Acquires 138,961 Shares of Anaplan, Inc. (NYSE:PLAN)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Anaplan, Inc. (NYSE:PLAN) by 70.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 335,134 shares of the company’s stock after buying an additional 138,961 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of Anaplan worth $24,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Ieq Capital LLC boosted its position in Anaplan by 6.1% during the fourth quarter. Ieq Capital LLC now owns 11,094 shares of the company’s stock valued at $797,000 after purchasing an additional 640 shares in the last quarter. Valmark Advisers Inc. boosted its position in Anaplan by 20.1% during the fourth quarter. Valmark Advisers Inc. now owns 17,834 shares of the company’s stock valued at $1,281,000 after purchasing an additional 2,984 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in Anaplan by 2.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 50,875 shares of the company’s stock valued at $3,655,000 after purchasing an additional 1,200 shares in the last quarter. California Public Employees Retirement System boosted its position in Anaplan by 7.5% during the fourth quarter. California Public Employees Retirement System now owns 294,438 shares of the company’s stock valued at $21,155,000 after purchasing an additional 20,584 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Anaplan by 52.1% during the fourth quarter. First Trust Advisors LP now owns 1,331,807 shares of the company’s stock valued at $95,690,000 after purchasing an additional 456,145 shares in the last quarter. 95.92% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO David H. Morton, Jr. sold 34,579 shares of Anaplan stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $67.17, for a total transaction of $2,322,671.43. Following the transaction, the chief financial officer now owns 97,556 shares in the company, valued at $6,552,836.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sandesh Kaveripatnam sold 12,000 shares of Anaplan stock in a transaction that occurred on Wednesday, November 25th. The stock was sold at an average price of $69.58, for a total value of $834,960.00. Following the transaction, the director now owns 82,156 shares in the company, valued at approximately $5,716,414.48. The disclosure for this sale can be found here. Insiders sold 309,603 shares of company stock worth $22,510,278 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

A number of equities research analysts recently weighed in on PLAN shares. Loop Capital raised their price objective on Anaplan from $50.00 to $55.00 and gave the company a “sell” rating in a research report on Wednesday, November 25th. Needham & Company LLC raised their price objective on Anaplan from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 28th. They noted that the move was a valuation call. Jefferies Financial Group raised Anaplan from a “hold” rating to a “buy” rating and raised their price objective for the company from $70.00 to $85.00 in a research report on Monday, January 11th. Truist increased their price target on Anaplan from $70.00 to $75.00 in a research note on Friday, November 27th. Finally, FBN Securities raised their price objective on Anaplan from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.96.

Shares of PLAN opened at $80.11 on Tuesday. The stock’s 50 day moving average is $74.51 and its two-hundred day moving average is $64.78. The firm has a market cap of $11.37 billion, a P/E ratio of -74.18 and a beta of 2.05. Anaplan, Inc. has a 12 month low of $26.04 and a 12 month high of $86.17.

Anaplan (NYSE:PLAN) last issued its quarterly earnings results on Monday, November 23rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.05. The firm had revenue of $114.88 million for the quarter, compared to analyst estimates of $109.73 million. Anaplan had a negative return on equity of 47.60% and a negative net margin of 35.09%. On average, analysts anticipate that Anaplan, Inc. will post -1.03 earnings per share for the current fiscal year.

About Anaplan

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.

See Also: What are Institutional Investors?

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Institutional Ownership by Quarter for Anaplan (NYSE:PLAN)

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