Atlassian Corporation PLC $TEAM Shares Bought by Exane Asset Management

Key Points

• Exane Asset Management increased its stake in Atlassian by 419.9% in Q4, buying an additional 25,330 shares to hold 31,363 shares worth $5.09 million, which is 1.2% of Exane’s portfolio and its 19th largest position.
• Company insiders — including director Scott Farquhar and CEO Michael Cannon‑Brookes — each sold 7,665 shares in late Jan/early Feb, and insiders sold a total of 128,653 shares (~$15.09 million) last quarter, though insiders still own 36.66% of the stock.
• Several brokers have lowered price targets (examples: Wells Fargo to $120, Oppenheimer to $100), yet the consensus rating remains a Moderate Buy with a $157.52 target; TEAM opened at $66.94, with a 1‑year range of $56.01–$242 and a market cap of about $17.66 billion.

Exane Asset Management grew its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 419.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 31,363 shares of the technology company's stock after purchasing an additional 25,330 shares during the quarter. Atlassian accounts for 1.2% of Exane Asset Management's portfolio, making the stock its 19th largest position. Exane Asset Management's holdings in Atlassian were worth $5,085,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Physician Wealth Advisors Inc. increased its position in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock valued at $26,000 after purchasing an additional 61 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after purchasing an additional 161 shares during the period. Atlantic Union Bankshares Corp increased its position in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock valued at $32,000 after purchasing an additional 199 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Atlassian during the 4th quarter valued at $32,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Atlassian during the 3rd quarter valued at $57,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $116.40, for a total transaction of $892,206.00. Following the transaction, the director owned 298,935 shares in the company, valued at approximately $34,796,034. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Friday, January 30th. The shares were sold at an average price of $119.15, for a total value of $913,284.75. Following the transaction, the chief executive officer owned 314,265 shares in the company, valued at $37,444,674.75. This represents a 2.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 128,653 shares of company stock worth $15,085,924 in the last quarter. 36.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TEAM. Wells Fargo & Company lowered their price target on Atlassian from $155.00 to $120.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 17th. Cantor Fitzgerald cut their target price on Atlassian from $240.00 to $146.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 4th. Oppenheimer cut their target price on Atlassian from $150.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research report on Monday, March 23rd. Finally, BMO Capital Markets set a $130.00 price target on Atlassian and gave the stock an "outperform" rating in a research note on Friday, February 6th. Nineteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $157.52.

Atlassian Stock Performance

Shares of TEAM opened at $66.94 on Monday. The business's 50-day moving average price is $73.74 and its 200 day moving average price is $122.67. The stock has a market capitalization of $17.66 billion, a P/E ratio of -92.97 and a beta of 0.99. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $242.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Friday, February 6th. The technology company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter last year, the firm posted $0.96 earnings per share. Atlassian's revenue was up 23.3% compared to the same quarter last year. Analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

About Atlassian

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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