Entropy Technologies LP Purchases New Stake in Atlassian Corporation PLC $TEAM

Entropy Technologies LP purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,299 shares of the technology company’s stock, valued at approximately $1,670,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in Atlassian by 14.8% during the fourth quarter. Barclays PLC now owns 303,420 shares of the technology company’s stock valued at $49,197,000 after buying an additional 39,209 shares during the period. AFT Forsyth & Company Inc. bought a new position in Atlassian in the 4th quarter worth approximately $837,000. Aptus Capital Advisors LLC grew its stake in Atlassian by 99.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 4,510 shares of the technology company’s stock valued at $731,000 after buying an additional 2,247 shares in the last quarter. Kestra Advisory Services LLC grew its stake in Atlassian by 28.2% in the 4th quarter. Kestra Advisory Services LLC now owns 9,985 shares of the technology company’s stock valued at $1,619,000 after buying an additional 2,196 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in Atlassian by 7.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 717,272 shares of the technology company’s stock valued at $116,298,000 after acquiring an additional 50,643 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In related news, CRO Brian Duffy sold 3,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive owned 227,691 shares in the company, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. This trade represents a 2.97% 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 sold 20,041 shares of company stock worth $1,801,069 in the last quarter. 36.66% of the stock is currently owned by company insiders.

Atlassian Trading Up 3.4%

Shares of TEAM stock opened at $91.55 on Tuesday. 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 Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The company has a market capitalization of $23.23 billion, a PE ratio of -110.30, a price-to-earnings-growth ratio of 5.02 and a beta of 1.07. The business’s fifty day moving average is $81.92 and its 200 day moving average is $103.87.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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 positive return on equity of 6.22% and a negative net margin of 3.50%.The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm’s revenue was up 31.7% compared to the same quarter last year. On average, equities research analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Robert W. Baird set a $120.00 price target on Atlassian in a report on Friday, May 1st. Morgan Stanley dropped their price objective on Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. BMO Capital Markets cut their target price on Atlassian from $130.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. UBS Group reduced their target price on Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Finally, Mizuho decreased their price target on Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $145.63.

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.