Kapitalo Investimentos Ltda Invests $2.53 Million in Atlassian Corporation PLC $TEAM

Kapitalo Investimentos Ltda acquired a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,834 shares of the technology company’s stock, valued at approximately $2,529,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Atlassian by 22,085.7% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $248,000 after buying an additional 1,546 shares during the period. AustralianSuper Pty Ltd raised its position in Atlassian by 2.1% in the third quarter. AustralianSuper Pty Ltd now owns 53,657 shares of the technology company’s stock worth $8,569,000 after purchasing an additional 1,081 shares in the last quarter. Exane Asset Management acquired a new position in Atlassian in the third quarter worth about $963,000. Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian during the third quarter worth about $57,000. Finally, Mutual of America Capital Management LLC boosted its holdings in Atlassian by 39.3% during the third quarter. Mutual of America Capital Management LLC now owns 5,681 shares of the technology company’s stock valued at $907,000 after purchasing an additional 1,604 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Up 0.7%

Shares of NASDAQ TEAM opened at $134.76 on Thursday. Atlassian Corporation PLC has a 12-month low of $115.53 and a 12-month high of $326.00. The firm’s 50-day simple moving average is $150.02 and its 200 day simple moving average is $162.32. 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 company has a market cap of $35.46 billion, a price-to-earnings ratio of -189.80, a price-to-earnings-growth ratio of 20.73 and a beta of 0.88.

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

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $136.93, for a total transaction of $1,049,568.45. Following the completion of the sale, the chief executive officer owned 337,260 shares in the company, valued at $46,181,011.80. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $136.93, for a total value of $1,049,568.45. Following the transaction, the director directly owned 337,260 shares in the company, valued at $46,181,011.80. This trade represents a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 551,049 shares of company stock valued at $84,075,059. 36.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TEAM shares. Canaccord Genuity Group reissued a “buy” rating and issued a $230.00 target price on shares of Atlassian in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, January 21st. Macquarie reduced their target price on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Sanford C. Bernstein increased their target price on shares of Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Finally, Mizuho reduced their price target on shares of Atlassian from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Twenty-one investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.54.

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.