Atlassian Corporation PLC $TEAM Shares Acquired by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group increased its Atlassian stake by 67.5% in the third quarter, bringing its holdings to 14,802 shares valued at approximately $2.65 million. Institutional investors collectively own 94.45% of TEAM.
• Atlassian reported quarterly revenue of $1.77 billion, up 27.6% year over year, and earnings of $1.87 per share, exceeding analysts’ expectations of $1.50.
• Analysts maintain a “Moderate Buy” consensus, with 24 Buy ratings, four Holds and one Sell; the average price target is $213.35, although several firms recently raised their targets as high as $280.

Citizens Financial Group Inc. RI raised its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 67.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,802 shares of the technology company's stock after acquiring an additional 5,965 shares during the period. Citizens Financial Group Inc. RI's holdings in Atlassian were worth $2,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TEAM. Carmignac Gestion boosted its stake in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock valued at $177,707,000 after purchasing an additional 1,397,402 shares during the period. First Trust Advisors LP increased its holdings 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 valued at $160,377,000 after purchasing an additional 766,922 shares during the period. KBC Group NV raised 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 purchasing an additional 1,359,624 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Atlassian by 111.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company's stock valued at $84,105,000 after buying an additional 247,540 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in shares of Atlassian by 53.0% during the 3rd quarter. Artemis Investment Management LLP now owns 461,537 shares of the technology company's stock worth $82,749,000 after buying an additional 159,884 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Performance

TEAM stock opened at $223.41 on Tuesday. 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 capitalization of $56.69 billion, a price-to-earnings ratio of -1,175.84, a P/E/G ratio of 24.27 and a beta of 1.22. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $229.96. The firm has a 50 day moving average of $191.93 and a two-hundred day moving average of $117.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The business's quarterly revenue was up 27.6% compared to the same quarter last year. As a group, equities analysts anticipate that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Atlassian from $120.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Raymond James Financial set a $180.00 target price on shares of Atlassian in a report on Friday, August 7th. Guggenheim boosted their target price on Atlassian from $165.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, October 19th. Citigroup lifted their price target on Atlassian from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, October 20th. Finally, Mizuho raised their target price on shares of Atlassian from $215.00 to $235.00 and gave the stock an "outperform" rating in a report on Thursday, October 15th. Twenty-four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $213.35.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 337 shares of the company's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the sale, the chief accounting officer directly owned 55,531 shares in the company, valued at $11,661,510. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Brian Duffy sold 1,851 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $319,204.95. Following the sale, the executive owned 218,223 shares of the company's stock, valued at $37,632,556.35. This trade represents a 0.84% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 22,475 shares of company stock worth $3,822,643. Company insiders own 37.63% of the company's stock.

Atlassian Company Profile

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.