Capital International Investors Sells 1,614,158 Shares of Atlassian Corporation PLC $TEAM

Capital International Investors decreased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAMFree Report) by 45.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,946,366 shares of the technology company’s stock after selling 1,614,158 shares during the quarter. Capital International Investors’ holdings in Atlassian were worth $315,618,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Havemeyer Place LP bought a new stake in shares of Atlassian during the 4th quarter worth about $1,178,000. 111 Capital raised its stake in Atlassian by 14.9% in the 4th quarter. 111 Capital now owns 1,864 shares of the technology company’s stock worth $302,000 after purchasing an additional 242 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Atlassian by 49.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,667 shares of the technology company’s stock worth $1,730,000 after purchasing an additional 3,546 shares in the last quarter. Pinebridge Investments LLC acquired a new stake in Atlassian in the 4th quarter worth about $6,346,000. Finally, WINTON GROUP Ltd acquired a new stake in Atlassian in the 4th quarter worth about $12,650,000. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. KeyCorp dropped their price objective on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. BMO Capital Markets dropped their price objective on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Barclays lifted their price objective on shares of Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald lifted their price objective on shares of Atlassian from $98.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $145.63.

Check Out Our Latest Research Report on TEAM

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $99.47 on Monday. The firm has a 50 day moving average of $78.95 and a 200-day moving average of $106.17. The stock has a market capitalization of $25.24 billion, a PE ratio of -119.84, a PEG ratio of 5.64 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.33 by $0.42. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 EPS. On average, equities research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Insider Activity at Atlassian

In other news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the transaction, the executive owned 236,841 shares of the company’s stock, valued at $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 10,891 shares of company stock valued at $955,683 over the last 90 days. Corporate insiders own 36.66% of the company’s stock.

Atlassian Profile

(Free Report)

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.

See Also

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Corporation PLC (NASDAQ:TEAMFree Report).

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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