Capital International Ltd. CA Has $2.92 Million Stock Position in Atlassian Corporation PLC $TEAM

Capital International Ltd. CA reduced its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 54.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,997 shares of the technology company’s stock after selling 21,614 shares during the period. Capital International Ltd. CA’s holdings in Atlassian were worth $2,918,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp raised its stake in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after purchasing an additional 199 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $32,000. Basepoint Wealth LLC purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $32,000. Bogart Wealth LLC raised its stake in shares of Atlassian by 76.4% in the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after purchasing an additional 94 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $41,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the subject of several analyst reports. Zacks Research raised Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Mizuho lowered their price objective on Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. BTIG Research increased their price objective on Atlassian from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler lowered their price objective on Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Robert W. Baird set a $120.00 price objective on Atlassian in a research note on Friday, May 1st. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Stock Performance

TEAM stock opened at $99.47 on Monday. The firm has a market cap of $25.24 billion, a PE ratio of -119.84, a P/E/G ratio of 5.64 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The business has a 50 day moving average of $78.95 and a 200-day moving average of $106.17. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $222.59.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. The company 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%.Atlassian’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. As a group, sell-side analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Insider Activity at Atlassian

In other news, CFO James Chuong sold 8,838 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $174,271.50. Following the completion of the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at approximately $20,782,797.75. This represents a 0.83% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 10,891 shares of company stock valued at $955,683. 36.66% of the stock is currently owned by corporate insiders.

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.