Chiron Capital Management LLC lowered its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 80.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,201 shares of the technology company’s stock after selling 9,200 shares during the quarter. Chiron Capital Management LLC’s holdings in Atlassian were worth $395,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TEAM. MV Capital Management Inc. bought a new position in shares of Atlassian during the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC bought a new stake in shares of Atlassian in the 2nd quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Atlassian by 139.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after purchasing an additional 220 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Atlassian in the 1st quarter worth approximately $30,000. Finally, State of Wyoming increased its position in Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after buying an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on TEAM. Royal Bank Of Canada lifted their price objective on Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday. Citizens Jmp reissued a “market perform” rating on shares of Atlassian in a research note on Wednesday, July 1st. Barclays raised their price target on Atlassian from $172.00 to $222.00 and gave the company an “overweight” rating in a report on Tuesday. BTIG Research lifted their price target on Atlassian from $180.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Guggenheim increased their price objective on shares of Atlassian from $115.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Twenty-five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $196.00.
Insider Activity
In related news, CRO Brian Duffy sold 7,617 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the transaction, the executive owned 220,074 shares in the company, valued at $35,872,062. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the completion of the sale, the chief accounting officer owned 56,807 shares in the company, valued at $9,941,225. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,475 shares of company stock valued at $3,822,643 over the last three months. Insiders own 36.66% of the company’s stock.
Atlassian Stock Performance
NASDAQ:TEAM traded up $8.57 during mid-day trading on Thursday, reaching $213.23. The company’s stock had a trading volume of 1,647,828 shares, compared to its average volume of 5,674,333. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $214.77. The firm’s fifty day moving average price is $181.48 and its two-hundred day moving average price is $118.43. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock has a market cap of $54.11 billion, a P/E ratio of -1,122.12, a PEG ratio of 16.35 and a beta of 1.22.
Atlassian (NASDAQ:TEAM – Get Free Report) last posted its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.37. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. On average, equities analysts forecast that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.
Atlassian Company Profile
Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.
Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.
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