Quantinno Capital Management LP Buys 256,374 Shares of Atlassian Corporation PLC $TEAM

Quantinno Capital Management LP lifted its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 947.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 283,427 shares of the technology company’s stock after buying an additional 256,374 shares during the quarter. Quantinno Capital Management LP’s holdings in Atlassian were worth $19,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of Atlassian by 71.6% in the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 2,267 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Atlassian by 39.5% during the 1st quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after acquiring an additional 1,328 shares in the last quarter. Focus Partners Wealth raised its stake in Atlassian by 32.6% during the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after purchasing an additional 1,014 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings 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 acquiring an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in shares of Atlassian by 27.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after purchasing an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In other news, CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the transaction, the executive directly owned 227,691 shares in the company, valued at $20,426,159.61. The trade was a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at $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. Insiders sold a total of 20,041 shares of company stock worth $1,801,069 over the last three months. Corporate insiders own 36.66% of the company’s stock.

Atlassian Stock Up 2.9%

TEAM opened at $101.01 on Friday. The company has a market cap of $25.63 billion, a PE ratio of -121.70, a price-to-earnings-growth ratio of 7.17 and a beta of 1.11. The company has a 50-day moving average price of $90.49 and a 200 day moving average price of $87.46. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $199.09. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. The firm had revenue of $1.79 billion for 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 revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. Sell-side analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Guggenheim set a $115.00 target price on shares of Atlassian in a report on Thursday, April 9th. Citigroup decreased their target price on Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Cantor Fitzgerald upped their price target on shares of Atlassian from $98.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Raymond James Financial restated an “outperform” rating on shares of Atlassian in a research note on Tuesday, July 21st. Finally, BTIG Research reissued a “buy” rating and set a $130.00 target price on shares of Atlassian in a research report on Friday, July 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $138.50.

Atlassian Company Profile

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.