Versor Investments LP Has $1.67 Million Stock Holdings in Atlassian Corporation PLC $TEAM

Versor Investments LP boosted its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 345.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,300 shares of the technology company’s stock after purchasing an additional 7,986 shares during the quarter. Versor Investments LP’s holdings in Atlassian were worth $1,670,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. AG2R LA Mondiale Gestion D Actifs grew its holdings in Atlassian by 23.9% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 8,320 shares of the technology company’s stock worth $1,349,000 after purchasing an additional 1,605 shares during the period. Nicholas Company Inc. grew its holdings in shares of Atlassian by 8.7% during the fourth quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock valued at $49,748,000 after buying an additional 24,490 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in shares of Atlassian by 3.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 28,286 shares of the technology company’s stock valued at $4,586,000 after buying an additional 889 shares during the last quarter. Drive Wealth Management LLC acquired a new position in shares of Atlassian during the fourth quarter valued at about $307,000. Finally, Plato Investment Management Ltd grew its holdings in shares of Atlassian by 24.9% during the fourth quarter. Plato Investment Management Ltd now owns 11,333 shares of the technology company’s stock valued at $1,846,000 after buying an additional 2,257 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Down 4.7%

Atlassian stock opened at $87.31 on Tuesday. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $232.36. The stock has a market cap of $22.16 billion, a PE ratio of -105.19, a price-to-earnings-growth ratio of 5.20 and a beta of 0.90. The firm’s 50-day simple moving average is $72.64 and its 200 day simple moving average is $115.33. 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 (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. Research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 3,072 shares of Atlassian stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $249,907.20. Following the sale, the chief technology officer owned 212,916 shares of the company’s stock, valued at approximately $17,320,716.60. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph Leo Binz sold 1,653 shares of Atlassian stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $81.35, for a total transaction of $134,471.55. Following the completion of the sale, the chief financial officer directly owned 208,639 shares in the company, valued at approximately $16,972,782.65. This represents a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 6,013 shares of company stock valued at $489,158. Company insiders own 36.66% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of analyst reports. Wolfe Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Atlassian in a report on Thursday, March 12th. Sanford C. Bernstein reiterated an “outperform” rating and set a $295.00 price objective on shares of Atlassian in a report on Friday, May 1st. TD Cowen lifted their price objective on shares of Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a report on Friday, May 1st. Raymond James Financial set a $130.00 price objective on shares of Atlassian in a report on Friday, May 1st. Finally, BTIG Research lifted their price objective on shares of Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.63.

About Atlassian

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.