5 Best Stocks to Buy in 2022 According to Billionaire Paul Tudor Jones

2. Anaplan, Inc. (NYSE:PLAN)

Tudor Investment Corp’s Stake Value: $89,236,000

Percentage of Tudor Investment Corp’s 13F Portfolio: 2.08%

Number of Hedge Fund Holders: 47

Anaplan, Inc. (NYSE:PLAN) is an American cloud-based planning platform that enables organizations and users to connect remotely. The platform is used by the banking, capital markets, consumer products, healthcare, insurance, life sciences, media, professional services, retail, technology, telecom, and transportation industries in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Securities filings for Q1 2022 reveal that billionaire Paul Tudor Jones’ Tudor Investment Corp boosted its Anaplan, Inc. (NYSE:PLAN) stake by 4692%, holding 1.3 million shares worth $89.2 million, representing 2.08% of the total 13F securities. 

On May 2, JMP Securities analyst Patrick Walravens downgraded Anaplan, Inc. (NYSE:PLAN) to Market Perform from Outperform without a price target. Thoma Bravo, an American private equity firm, agreed to acquire the company for $66 per share.

According to the Q1 2022 database of Insider Monkey, 47 hedge funds held long positions in Anaplan, Inc. (NYSE:PLAN), with collective stakes amounting to $2.4 billion. Sculptor Capital held the largest stake in the company in the first quarter of 2022, with 5.30 million shares worth $344.8 million.  

Here is what Alger Mid Cap Focus Fund has to say about Anaplan, Inc. (NYSE:PLAN) in their Q1 2021 investor letter:

“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.”