Vinva Investment Management Ltd Buys 45,616 Shares of Atlassian Corporation PLC $TEAM

by · The Markets Daily

Vinva Investment Management Ltd increased its stake in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 111.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,482 shares of the technology company’s stock after buying an additional 45,616 shares during the period. Vinva Investment Management Ltd’s holdings in Atlassian were worth $14,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Capco Asset Management LLC bought a new stake in Atlassian in the second quarter worth $25,000. Physician Wealth Advisors Inc. grew its stake in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in shares of 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 purchasing an additional 199 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of Atlassian in the 2nd quarter worth about $61,000. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $94.81, for a total transaction of $726,718.65. Following the completion of the sale, the chief executive officer directly owned 275,940 shares in the company, valued at approximately $26,161,871.40. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Brian Duffy sold 1,222 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $99,409.70. Following the transaction, the executive directly owned 124,332 shares in the company, valued at $10,114,408.20. The trade was a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 389,791 shares of company stock valued at $55,616,361 in the last ninety days. Corporate insiders own 36.66% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $83.62 on Friday. 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 firm has a market cap of $22.05 billion, a price-to-earnings ratio of -116.14, a price-to-earnings-growth ratio of 331.24 and a beta of 0.94. The business has a 50-day simple moving average of $112.62 and a two-hundred day simple moving average of $144.11. Atlassian Corporation PLC has a fifty-two week low of $67.85 and a fifty-two week high of $251.00.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on TEAM. Oppenheimer cut their price objective on shares of Atlassian from $275.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. TD Cowen decreased their target price on shares of Atlassian from $205.00 to $175.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Wells Fargo & Company dropped their target price on shares of Atlassian from $216.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Zacks Research cut shares of Atlassian from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Finally, Jefferies Financial Group set a $150.00 price target on shares of Atlassian in a research report on Friday, February 6th. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $189.32.

Check Out Our Latest Stock Analysis on Atlassian

Atlassian Company Profile

(Free Report)

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.

Further Reading

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