WINTON GROUP Ltd Acquires New Holdings in Atlassian Corporation PLC $TEAM

WINTON GROUP Ltd bought a new position in Atlassian Corporation PLC (NASDAQ:TEAM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,800 shares of the technology company’s stock, valued at approximately $373,000.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Atlassian by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 2,465,854 shares of the technology company’s stock valued at $398,417,000 after buying an additional 67,185 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Atlassian by 27.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock worth $343,344,000 after buying an additional 1,080,561 shares during the last quarter. Norges Bank bought a new stake in shares of Atlassian in the fourth quarter worth $323,526,000. Legal & General Group Plc increased its position in Atlassian by 3.6% during the fourth quarter. Legal & General Group Plc now owns 1,133,333 shares of the technology company’s stock valued at $183,759,000 after acquiring an additional 39,243 shares during the last quarter. Finally, Carmignac Gestion lifted its holdings in Atlassian by 115.8% in the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after acquiring an additional 1,397,402 shares during the period. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research reports. Royal Bank Of Canada started coverage on Atlassian in a research report on Tuesday, August 25th. They issued an “outperform” rating and a $215.00 target price on the stock. Truist Financial raised their price objective on shares of Atlassian from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Morgan Stanley boosted their target price on shares of Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. KeyCorp upped their target price on shares of Atlassian from $115.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Guggenheim increased their price target on shares of Atlassian from $115.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Twenty-five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.41.

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 7,617 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the completion of the transaction, the executive owned 220,074 shares of the company’s stock, valued at approximately $35,872,062. This represents a 3.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the sale, the chief financial officer owned 279,218 shares of the company’s stock, valued at $48,151,144.10. The trade was a 3.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 22,138 shares of company stock worth $3,751,873. 36.66% of the stock is owned by corporate insiders.

Atlassian Trading Up 0.2%

Shares of NASDAQ:TEAM opened at $190.28 on Thursday. The stock has a 50 day moving average of $142.19 and a 200 day moving average of $101.75. The company has a market cap of $48.29 billion, a PE ratio of -1,001.47, a price-to-earnings-growth ratio of 14.92 and a beta of 1.15. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $198.60. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last released its earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm’s revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. As a group, equities research analysts expect that Atlassian Corporation PLC will post 0.94 EPS for the current year.

About Atlassian

Atlassian Corporation develops collaboration, productivity and workflow software for software development, information technology, business and other teams. Its products are designed to help organizations plan projects, manage work, share knowledge, improve service delivery and coordinate across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for collaboration and knowledge management, Jira Service Management for IT and business service workflows, Trello for organizing tasks and projects, Bitbucket for source-code management, and Loom for video messaging.