Atlassian Corporation PLC $TEAM Shares Sold by Amundi

Key Points

• Amundi trimmed its Atlassian position by 0.6%, selling 13,942 shares and retaining 2.14 million shares worth approximately $146.3 million. Institutional investors collectively own 94.45% of the company.
• Wall Street maintains a “Moderate Buy” consensus on TEAM, with 21 Buy, six Hold and one Sell rating; the average price target is $138.50.
• Atlassian beat quarterly expectations, reporting $1.75 in adjusted earnings per share and $1.79 billion in revenue, with revenue up 31.7% year over year. Executives also sold shares recently, including transactions by the chief revenue officer and CFO.

Amundi decreased its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,143,038 shares of the technology company's stock after selling 13,942 shares during the period. Amundi owned approximately 0.84% of Atlassian worth $146,262,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TEAM. MV Capital Management Inc. acquired a new position in shares of Atlassian during the fourth quarter worth approximately $25,000. State of Wyoming increased its position in Atlassian by 65.7% in the 1st quarter. State of Wyoming now owns 449 shares of the technology company's stock valued at $31,000 after acquiring an additional 178 shares during the period. Basepoint Wealth LLC acquired a new stake in Atlassian in the 4th quarter valued at approximately $32,000. Garton & Associates Financial Advisors LLC bought a new stake in Atlassian during the 4th quarter valued at $32,000. Finally, Bogart Wealth LLC raised its stake in Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company's stock valued at $35,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEAM. Oppenheimer increased their price target on Atlassian from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. TD Cowen lifted their price objective on shares of Atlassian from $85.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, May 1st. UBS Group reduced their price objective on shares of Atlassian from $105.00 to $95.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Cantor Fitzgerald increased their target price on shares of Atlassian from $98.00 to $107.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Atlassian in a research note on Monday, June 29th. Twenty-one analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and an average target price of $138.50.

Insider Transactions at Atlassian

In other news, CRO Brian Duffy sold 3,000 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the transaction, the executive owned 227,691 shares in the company, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. This represents a 2.97% 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. Insiders sold a total of 20,041 shares of company stock valued at $1,801,069 over the last three months. 36.66% of the stock is owned by corporate insiders.

Atlassian Stock Up 2.9%

TEAM opened at $101.01 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $25.63 billion, a PE ratio of -121.70, a P/E/G ratio of 6.96 and a beta of 1.11. The stock's fifty day moving average is $90.49 and its 200-day moving average is $87.46. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $199.09.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company's quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal 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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