Capital International Investors Sells 71,990 Shares of Atlassian Corporation PLC $TEAM

Capital International Investors trimmed its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,560,524 shares of the technology company’s stock after selling 71,990 shares during the period. Capital International Investors owned approximately 1.35% of Atlassian worth $568,863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capco Asset Management LLC bought a new position in shares of Atlassian during the second quarter valued at $25,000. Physician Wealth Advisors Inc. increased its holdings in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp increased its holdings in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the 3rd quarter worth about $57,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $78.01 on Wednesday. The stock has a market cap of $20.57 billion, a P/E ratio of -108.35, a P/E/G ratio of 324.98 and a beta of 0.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s fifty day moving average is $109.29 and its 200 day moving average is $142.72. Atlassian Corporation PLC has a one year low of $67.85 and a one year high of $242.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.Atlassian’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $162.40, for a total transaction of $1,244,796.00. Following the transaction, the director owned 53,655 shares of the company’s stock, valued at $8,713,572. The trade was a 12.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $162.40, for a total transaction of $1,244,796.00. Following the completion of the transaction, the chief executive officer owned 53,655 shares of the company’s stock, valued at approximately $8,713,572. The trade was a 12.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 359,131 shares of company stock valued at $50,672,589. 36.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TEAM. Citigroup dropped their price target on shares of Atlassian from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Canaccord Genuity Group set a $185.00 price objective on shares of Atlassian in a report on Friday, February 6th. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday. Guggenheim cut their target price on shares of Atlassian from $225.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Finally, UBS Group reiterated a “neutral” rating and set a $105.00 target price on shares of Atlassian in a research note on Friday, February 6th. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.32.

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.