Capital International Inc. CA Sells 74,153 Shares of Atlassian Corporation PLC $TEAM

Capital International Inc. CA cut its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 51.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,135 shares of the technology company’s stock after selling 74,153 shares during the quarter. Capital International Inc. CA’s holdings in Atlassian were worth $11,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Atlassian during the 4th quarter valued at approximately $32,000. Basepoint Wealth LLC bought a new stake in shares of Atlassian during the 4th quarter valued at approximately $32,000. Finally, Bogart Wealth LLC grew its holdings in shares of Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after purchasing an additional 94 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TEAM shares. BMO Capital Markets reduced their target price on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Wall Street Zen lowered shares of Atlassian from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Piper Sandler reduced their target price on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Zacks Research raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Truist Financial boosted their target price on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $99.47 on Monday. The company has a market capitalization of $25.24 billion, a P/E ratio of -119.84, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The company’s 50 day moving average price is $78.95 and its 200-day moving average price is $106.17.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. Equities analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares of the company’s stock, valued at $25,295,868. This trade represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 10,891 shares of company stock valued at $955,683 in the last 90 days. 36.66% of the stock is currently owned by company insiders.

Atlassian 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.