AQR Capital Management LLC Has $392.28 Million Position in Atlassian Corporation PLC $TEAM

AQR Capital Management LLC increased its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 12.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,933,851 shares of the technology company’s stock after buying an additional 218,564 shares during the quarter. AQR Capital Management LLC’s holdings in Atlassian were worth $392,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEAM. Capco Asset Management LLC bought a new stake in shares of Atlassian in the 2nd quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its position in Atlassian by 447.2% in the first 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 period. State of Wyoming raised its stake in Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after acquiring an additional 47 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of Atlassian during the second quarter valued at $61,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Atlassian by 40.1% during the second quarter. First Horizon Advisors Inc. now owns 374 shares of the technology company’s stock valued at $76,000 after acquiring an additional 107 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total transaction of $1,240,120.35. Following the completion of the sale, the director directly owned 99,645 shares of the company’s stock, valued at $16,121,564.55. The trade was a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total transaction of $1,240,120.35. Following the completion of the transaction, the chief executive officer owned 107,310 shares in the company, valued at $17,361,684.90. This represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 581,181 shares of company stock valued at $91,738,233. 36.66% of the stock is owned by corporate insiders.

Atlassian Trading Down 0.7%

TEAM stock opened at $162.04 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00. The company has a market cap of $42.63 billion, a P/E ratio of -228.22, a PEG ratio of 30.79 and a beta of 0.89. The business has a fifty day moving average of $155.86 and a 200-day moving average of $175.77.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on TEAM shares. Truist Financial set a $210.00 price target on shares of Atlassian in a report on Friday, October 31st. Wells Fargo & Company initiated coverage on shares of Atlassian in a report on Tuesday, September 30th. They set an “overweight” rating and a $216.00 price objective for the company. Zacks Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Robert W. Baird set a $230.00 price target on Atlassian in a research report on Friday, October 31st. Finally, Guggenheim began coverage on Atlassian in a report on Thursday, September 11th. They set a “buy” rating and a $225.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.