Eurizon Capital SGR S.p.A. Buys New Stake in Atlassian Corporation PLC $TEAM

Eurizon Capital SGR S.p.A. purchased a new position in Atlassian Corporation PLC (NASDAQ:TEAM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 60,916 shares of the technology company’s stock, valued at approximately $9,877,000.

Several other institutional investors have also modified their holdings of TEAM. Physician Wealth Advisors Inc. grew its stake in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp grew 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 acquiring an additional 199 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Atlassian in the fourth quarter worth $32,000. Basepoint Wealth LLC acquired a new position in shares of Atlassian in the fourth quarter worth $32,000. Finally, Bogart Wealth LLC grew 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 acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insiders Place Their Bets

In related news, CRO Brian Duffy sold 1,986 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the transaction, the executive owned 236,841 shares in the company, valued at approximately $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. 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. In the last quarter, insiders have sold 10,891 shares of company stock valued at $955,683. Insiders own 36.66% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of several research reports. Oppenheimer boosted their price target on shares of Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research note on Monday, April 20th. Mizuho dropped their price target on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. BMO Capital Markets dropped their price target on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Stock Performance

Shares of TEAM stock opened at $107.61 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm has a fifty day moving average price of $75.55 and a 200 day moving average price of $107.83. The company has a market cap of $27.31 billion, a P/E ratio of -129.65, a PEG ratio of 6.10 and a beta of 1.07. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Sell-side analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

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.