Rokos Capital Management LLP Has $43.68 Million Stock Holdings in Atlassian Corporation PLC $TEAM

Rokos Capital Management LLP boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 581.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 215,019 shares of the technology company’s stock after buying an additional 183,488 shares during the period. Rokos Capital Management LLP’s holdings in Atlassian were worth $43,684,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. Capco Asset Management LLC acquired a new stake in shares of Atlassian during the second quarter worth $25,000. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the period. State of Wyoming raised its stake in shares of Atlassian by 20.3% in the 1st quarter. State of Wyoming now owns 278 shares of the technology company’s stock valued at $59,000 after purchasing an additional 47 shares during the period. Virtus Advisers LLC bought a new stake in shares of Atlassian in the second quarter valued at about $61,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Atlassian by 40.1% during the second quarter. First Horizon Advisors Inc. now owns 374 shares of the technology company’s stock worth $76,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $170.20, for a total transaction of $1,304,583.00. Following the completion of the sale, the director owned 38,325 shares of the company’s stock, valued at approximately $6,522,915. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $165.09, for a total transaction of $1,265,414.85. Following the completion of the transaction, the chief executive officer owned 22,995 shares in the company, valued at approximately $3,796,244.55. This trade represents a 25.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 581,181 shares of company stock valued at $91,943,348 over the last ninety days. 36.66% of the stock is currently owned by company insiders.

Atlassian Price Performance

NASDAQ:TEAM opened at $161.73 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average price is $155.39 and its two-hundred day moving average price is $176.17. The firm has a market capitalization of $42.55 billion, a price-to-earnings ratio of -227.79, a P/E/G ratio of 30.44 and a beta of 0.89. Atlassian Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $300.00 price objective on shares of Atlassian in a report on Friday, October 31st. Mizuho raised their price target on shares of Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Macquarie reduced their target price on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, October 8th. Finally, Guggenheim began coverage on shares of Atlassian in a research note on Thursday, September 11th. They set a “buy” rating and a $225.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.00.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.