Lisanti Capital Growth LLC Makes New Investment in Atlassian Corporation PLC $TEAM

Lisanti Capital Growth LLC bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,615 shares of the technology company’s stock, valued at approximately $1,365,000.

Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management lifted its position in Atlassian by 372.4% during the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after acquiring an additional 108 shares during the period. Reyes Financial Architecture Inc. acquired a new position in shares of Atlassian in the third quarter valued at about $49,000. Fortitude Family Office LLC increased its holdings in shares of Atlassian by 23.0% in the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock valued at $52,000 after purchasing an additional 54 shares during the period. Physician Wealth Advisors Inc. increased its holdings in shares of Atlassian by 142.4% in the third quarter. Physician Wealth Advisors Inc. now owns 337 shares of the technology company’s stock valued at $60,000 after purchasing an additional 198 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Atlassian in the second quarter worth about $27,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 7,617 shares of Atlassian stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the sale, the executive owned 220,074 shares in the company, valued at $35,872,062. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares of the company’s stock, valued at $48,151,144.10. This represents a 3.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 21,738 shares of company stock valued at $3,701,038 over the last ninety days. Corporate insiders own 37.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TEAM shares. Guggenheim set a $280.00 target price on Atlassian in a report on Friday, November 6th. Truist Financial reiterated a “buy” rating and issued a $200.00 target price (down from $250.00) on shares of Atlassian in a research report on Friday, November 6th. Wells Fargo & Company cut their price target on shares of Atlassian from $270.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, November 6th. FBN Securities reissued an “outperform” rating and set a $170.00 price target on shares of Atlassian in a research report on Monday, August 10th. Finally, UBS Group reissued a “buy” rating on shares of Atlassian in a research report on Friday, November 6th. Twenty-four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.48.

Atlassian Stock Up 2.6%

Atlassian stock opened at $152.44 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.72 and a quick ratio of 0.78. The stock has a market capitalization of $38.59 billion, a PE ratio of 423.46, a price-to-earnings-growth ratio of 15.40 and a beta of 1.16. The business has a 50 day simple moving average of $193.74 and a 200-day simple moving average of $119.94. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $229.96.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a return on equity of 33.53% and a net margin of 1.28%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm posted $1.04 EPS. The business’s revenue was up 23.7% on a year-over-year basis. On average, analysts anticipate that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year.

Atlassian Company Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams. Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration. Atlassian also offers cloud-based products and tools for distributed teams.