63,381 Shares in Atlassian Corporation PLC $TEAM Bought by EULAV Asset Management

Key Points

• EULAV Asset Management acquired 63,381 Atlassian shares in the third quarter, worth approximately $11.4 million. Institutional investors collectively own 94.45% of the company.
• Analysts remain broadly positive, with 24 Buy ratings, four Holds and one Sell. Atlassian’s average price target is $213.35, while several firms recently raised their targets as high as $275.
• Atlassian reported quarterly earnings of $1.87 per share versus the $1.50 consensus estimate, while revenue rose 27.6% year over year to $1.77 billion. Executives sold shares during the quarter primarily to cover tax obligations on vested equity awards.

EULAV Asset Management acquired a new position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 63,381 shares of the technology company's stock, valued at approximately $11,364,000.

Other institutional investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA increased 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 valued at $343,344,000 after buying an additional 1,080,561 shares during the period. Carmignac Gestion raised its position in shares of Atlassian by 115.8% during the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock worth $177,707,000 after acquiring an additional 1,397,402 shares during the last quarter. First Trust Advisors LP raised its position in shares of Atlassian by 48.4% during the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock worth $160,377,000 after acquiring an additional 766,922 shares during the last quarter. KBC Group NV lifted its stake in shares of Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock valued at $98,281,000 after acquiring an additional 1,359,624 shares during the period. Finally, Swiss National Bank boosted its holdings in Atlassian by 8.2% in the first quarter. Swiss National Bank now owns 493,267 shares of the technology company's stock valued at $33,665,000 after acquiring an additional 37,500 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In other news, CRO Brian Duffy sold 7,617 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the transaction, the executive directly owned 220,074 shares in the company, valued at approximately $35,872,062. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 business's stock in a transaction dated 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 transaction, 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 ownership of the stock. 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. Over the last quarter, insiders have sold 22,475 shares of company stock worth $3,822,643. Insiders own 37.63% of the company's stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of research reports. Oppenheimer lifted their price objective on Atlassian from $200.00 to $275.00 and gave the stock an "outperform" rating in a research report on Thursday. Wells Fargo & Company upped their target price on shares of Atlassian from $180.00 to $230.00 and gave the company an "overweight" rating in a research report on Wednesday, October 14th. Royal Bank Of Canada raised their target price on shares of Atlassian from $215.00 to $235.00 and gave the company an "outperform" rating in a research note on Monday, October 12th. Bank of America lifted their price target on shares of Atlassian from $175.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Finally, Cantor Fitzgerald lifted their price target on shares of Atlassian from $175.00 to $220.00 and gave the stock an "overweight" rating in a research report on Monday, September 21st. Twenty-four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $213.35.

Atlassian Stock Performance

TEAM stock opened at $227.61 on Monday. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $229.96. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The company has a market cap of $57.62 billion, a P/E ratio of -1,197.95, a price-to-earnings-growth ratio of 24.27 and a beta of 1.22. The business's fifty day moving average is $191.25 and its 200-day moving average is $125.92.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The firm's quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities research analysts forecast that Atlassian Corporation PLC will post 0.69 EPS for the current year.

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

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

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Corporation PLC (NASDAQ:TEAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.