Versor Investments LP Acquires 7,986 Shares of Atlassian Corporation PLC $TEAM

by · The Cerbat Gem

Versor Investments LP raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 345.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the technology company’s stock after acquiring an additional 7,986 shares during the quarter. Versor Investments LP’s holdings in Atlassian were worth $1,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. DNB Asset Management AS increased its holdings in Atlassian by 266.6% during the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after acquiring an additional 2,041,210 shares during the period. Pictet Asset Management Holding SA increased its holdings in Atlassian by 38.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,950,852 shares of the technology company’s stock worth $640,628,000 after acquiring an additional 1,090,787 shares during the period. Vanguard Group Inc. increased its holdings in Atlassian by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock worth $2,951,186,000 after acquiring an additional 1,049,483 shares during the period. Voyager Global Management LP increased its holdings in Atlassian by 181.8% during the 3rd quarter. Voyager Global Management LP now owns 1,550,000 shares of the technology company’s stock worth $247,535,000 after acquiring an additional 1,000,000 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in Atlassian during the 3rd quarter worth approximately $106,461,000. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In other news, CFO Joseph Leo Binz sold 1,653 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $134,471.55. Following the completion of the sale, the chief financial officer owned 208,639 shares of the company’s stock, valued at approximately $16,972,782.65. This represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Brian Duffy sold 1,222 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total transaction of $99,409.70. Following the completion of the sale, the executive directly owned 124,332 shares of the company’s stock, valued at $10,114,408.20. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,013 shares of company stock valued at $489,158. Corporate insiders own 36.66% of the company’s stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $87.31 on Tuesday. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $232.36. The stock has a market capitalization of $22.16 billion, a price-to-earnings ratio of -105.19, a price-to-earnings-growth ratio of 5.20 and a beta of 0.90. The company has a fifty day moving average of $72.64 and a 200-day moving average of $115.33. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s revenue was up 31.7% on a year-over-year basis. Equities research analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TEAM. Mizuho decreased their target price on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Guggenheim set a $115.00 target price on shares of Atlassian in a report on Thursday, April 9th. Barclays boosted their price target on shares of Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein reissued an “outperform” rating and issued a $295.00 price target on shares of Atlassian in a research note on Friday, May 1st. Finally, BTIG Research boosted their price target on shares of Atlassian from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $145.63.

View Our Latest Stock Report on TEAM

Atlassian Profile

(Free Report)

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.

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