Keystone Investors PTE Ltd. Reduces Stock Holdings in Atlassian Corporation PLC $TEAM

Keystone Investors PTE Ltd. lowered its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 88.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,516 shares of the technology company’s stock after selling 50,548 shares during the period. Keystone Investors PTE Ltd.’s holdings in Atlassian were worth $1,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Atlassian by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock valued at $3,006,281,000 after buying an additional 61,706 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Atlassian by 3.9% in the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock valued at $1,367,132,000 after buying an additional 316,276 shares in the last quarter. DNB Asset Management AS increased its position in shares of Atlassian by 42.2% in the fourth quarter. DNB Asset Management AS now owns 3,990,216 shares of the technology company’s stock valued at $646,974,000 after buying an additional 1,183,328 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Atlassian by 38.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,950,852 shares of the technology company’s stock valued at $640,628,000 after buying an additional 1,090,787 shares in the last quarter. Finally, State Street Corp increased its position in shares of Atlassian by 1.9% in the third quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock valued at $617,719,000 after buying an additional 73,014 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Transactions at Atlassian

In other Atlassian news, CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the sale, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the sale, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 20,041 shares of company stock valued at $1,801,069. 36.66% of the stock is owned by company insiders.

Atlassian Stock Performance

Atlassian stock opened at $88.52 on Friday. The firm has a market capitalization of $22.46 billion, a P/E ratio of -106.65, a PEG ratio of 5.06 and a beta of 1.07. The stock has a fifty day moving average price of $81.45 and a 200 day moving average price of $104.57. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59. 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 (NASDAQ:TEAM) last released 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 firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. Equities research analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. Barclays raised their price target on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. KeyCorp cut their price target on Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Sanford C. Bernstein reissued an “outperform” rating and issued a $295.00 price target on shares of Atlassian in a report on Friday, May 1st. Morgan Stanley cut their price target on Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Finally, Zacks Research raised Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.63.

About Atlassian

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.