40,686 Shares in Atlassian Corporation PLC $TEAM Bought by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super Pty Ltd bought a new stake in Atlassian, acquiring 40,686 shares worth about $2.78 million in the first quarter.
• Atlassian’s latest quarterly results beat expectations, with EPS of $1.75 versus $1.33 expected and revenue of $1.79 billion, up 31.7% year over year.
• Analysts remain broadly positive on TEAM, with a consensus rating of Moderate Buy and an average price target of $138.50, though several firms recently trimmed their targets.

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 40,686 shares of the technology company's stock, valued at approximately $2,777,000.

Several other large investors have also recently modified their holdings of TEAM. MV Capital Management Inc. bought a new position in shares of Atlassian during the fourth quarter valued at about $25,000. Board of the Pension Protection Fund purchased a new stake in Atlassian in the 4th quarter worth approximately $32,000. Basepoint Wealth LLC bought a new stake in shares of Atlassian in the 4th quarter worth approximately $32,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Atlassian in the 4th quarter worth approximately $32,000. Finally, Bogart Wealth LLC increased its stake in shares of Atlassian by 76.4% during the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company's stock valued at $35,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

NASDAQ TEAM opened at $93.29 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. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $206.00. The stock has a market cap of $23.67 billion, a price-to-earnings ratio of -112.40, a PEG ratio of 5.70 and a beta of 1.11. The company's 50 day moving average is $88.74 and its two-hundred day moving average is $91.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its 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. The company 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%. Atlassian's revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 EPS. As a group, research analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Brian Duffy sold 3,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive directly owned 227,691 shares of the company's stock, valued at $20,426,159.61. This represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Chuong sold 8,838 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares of the company's stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 20,041 shares of company stock worth $1,801,069. Corporate insiders own 36.66% of the company's stock.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. Barclays raised their price target on Atlassian from $106.00 to $112.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. KeyCorp decreased their price objective on shares of Atlassian from $130.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, July 8th. UBS Group dropped their target price on shares of Atlassian from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Citizens Jmp reiterated a "market perform" rating on shares of Atlassian in a research report on Wednesday, July 1st. Finally, Guggenheim set a $115.00 price target on shares of Atlassian in a research note on Thursday, April 9th. Twenty-one research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.50.

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.

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