Eric Bannasch Portfolio: 5 Biggest Stock Picks

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In this article, we will be discussing the 5 biggest stock picks in Eric Bannasch’s portfolio. If you wish to see our detailed analysis of Bannasch’s history, investment philosophy, and hedge fund performance, go directly to Eric Bannasch Portfolio: 10 Biggest Stock Picks.

5. Anaplan, Inc. (NYSE:PLAN)

Cadian Capital’s Stake Value: $167.1 million
Percentage of Cadian Capital’s 13F Portfolio: 7.42%
Number of Hedge Fund Holders: 52

Anaplan, Inc. (NYSE:PLAN) is placed fifth on our list of the 10 biggest stock picks in Eric Bannasch’s portfolio. The California-based software company sells subscriptions for cloud-based software and provides data for business related decision-making.

On October 1, UBS analyst Taylor McGinnis initiated coverage of Anaplan, Inc. (NYSE:PLAN) with a Buy rating and $72 price target, citing positive revenue expectations for the company.

As of Q2 2021, 52 hedge funds tracked by Insider Monkey have positions in Anaplan, Inc. (NYSE:PLAN), compared with 55 in the previous quarter. These stakes are valued at $2.1 billion. Eric Bannasch reported owning over 3.13 million shares in the company in the second quarter. These shares amount to more than $167.1 million in worth.

Alger, an investment management firm, mentioned Anaplan, Inc. (NYSE:PLAN) in its Q1 2021 investor letter. Here is what the firm had to say:

“Anaplan, Inc. was among the top detractors from performance. Anaplan is a leading provider of cloud-based business planning software. Anaplan’s software platform aims to solve the most complex planning needs of large global enterprises across various business lines. Unlike traditional business planning software, which is often rigid, siloed and opaque, Anaplan’s platform is designed to enable broader enterprise participation and better workforce collaboration during the business planning process. Through better planning, large enterprises can more effectively allocate resources to cut costs and generate revenue. Today Anaplan has over 1,600 customers across a variety of end markets and business use cases.

Anaplan shares underperformed in the first quarter as part of a broader sector rotation as high-growth software stocks fell out of favor relative to more cyclically exposed investment opportunities. We believe Anaplan’s focus on growth over near-term profit generation negatively impacts the company’s stock in a rising interest rate environment.

Fundamentally, Anaplan had strong fourth quarter earnings result, with the company seeing an acceleration of billings growth and a strong demand pipeline as companies realize the need for a more flexible digital planning solution.”