Anaplan (PLAN) Shares Down 8.6%
Anaplan Inc (NYSE:PLAN)’s share price traded down 8.6% during mid-day trading on Tuesday . The stock traded as low as $20.60 and last traded at $21.00. 583,282 shares traded hands during trading, an increase of 4% from the average session volume of 563,210 shares. The stock had previously closed at $22.97.
Several equities analysts have recently issued reports on the company. Goldman Sachs Group assumed coverage on Anaplan in a research note on Tuesday, November 6th. They set a “neutral” rating and a $25.00 price target on the stock. Evercore ISI assumed coverage on Anaplan in a research note on Tuesday, November 6th. They issued an “inline” rating and a $26.00 target price on the stock. SunTrust Banks assumed coverage on Anaplan in a research note on Tuesday, November 6th. They issued a “buy” rating and a $28.00 target price on the stock. KeyCorp assumed coverage on Anaplan in a research note on Tuesday, November 6th. They issued a “sector weight” rating on the stock. Finally, Morgan Stanley assumed coverage on Anaplan in a research note on Tuesday, November 6th. They issued an “equal weight” rating and a $23.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $27.33.
In other Anaplan news, Director Robert E. Beauchamp purchased 10,000 shares of the stock in a transaction on Friday, October 12th. The stock was bought at an average cost of $24.21 per share, for a total transaction of $242,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sandesh Kaveripatnam purchased 1,104,999 shares of the stock in a transaction on Tuesday, October 16th. The stock was acquired at an average price of $17.00 per share, with a total value of $18,784,983.00. The disclosure for this purchase can be found here. Insiders acquired 1,118,599 shares of company stock worth $19,088,283 in the last three months.
About Anaplan (NYSE:PLAN)
Anaplan, Inc provides a cloud-based connected planning platform 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 various lines of business, such as finance, sales, supply chain, marketing, human resources, and operations.
Further Reading: Cost of Capital Explained
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