Generali Investments Towarzystwo Funduszy Inwestycyjnych Takes Position in Atlassian Corporation PLC $TEAM

Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,000 shares of the technology company’s stock, valued at approximately $1,365,000.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Atlassian by 12.0% in the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after purchasing an additional 66 shares during the period. Snowden Capital Advisors LLC boosted its stake in shares of Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after buying an additional 71 shares during the period. Financial Perspectives Inc boosted its stake in shares of Atlassian by 11.7% during the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock worth $116,000 after buying an additional 75 shares during the period. Clearstead Advisors LLC grew its holdings in shares of Atlassian by 20.5% during the third quarter. Clearstead Advisors LLC now owns 488 shares of the technology company’s stock worth $78,000 after buying an additional 83 shares during the last quarter. Finally, Slow Capital Inc. grew its holdings in shares of Atlassian by 0.3% during the fourth quarter. Slow Capital Inc. now owns 33,486 shares of the technology company’s stock worth $5,429,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 8,838 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, 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. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the sale, the executive owned 227,691 shares of the company’s stock, valued at $20,426,159.61. This trade represents a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,041 shares of company stock worth $1,801,069 over the last 90 days. Insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $74.68 on Friday. 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 stock has a 50 day simple moving average of $84.99 and a 200-day simple moving average of $99.87. The company has a market cap of $18.95 billion, a price-to-earnings ratio of -89.98, a price-to-earnings-growth ratio of 4.62 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 posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on TEAM. Cantor Fitzgerald upped their price objective on Atlassian from $98.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Wolfe Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Atlassian in a research note on Thursday, March 12th. Truist Financial boosted their target price on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 1st. Citigroup cut their price target on Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Barclays lifted their price objective on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.26.

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.