Atlassian Corporation PLC $TEAM Stock Sold by Chiron Capital Management LLC

Key Points

• Chiron Capital Management cut its Atlassian stake by 80.7% in the third quarter, selling 9,200 shares and retaining 2,201 shares valued at approximately $395,000. Institutional investors collectively own 94.45% of TEAM.
• Analyst sentiment remains favorable, with 25 Buy ratings, four Holds and one Sell; Atlassian has a consensus “Moderate Buy” rating and an average price target of $196.
• TEAM shares rose 4.2% to $213.23, near their 52-week high. The company also exceeded quarterly earnings and revenue estimates, reporting $1.87 EPS and $1.77 billion in revenue, up 27.6% year over year.

Chiron Capital Management LLC lowered its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 80.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,201 shares of the technology company's stock after selling 9,200 shares during the period. Chiron Capital Management LLC's holdings in Atlassian were worth $395,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA increased its holdings in shares of Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company's stock worth $343,344,000 after buying an additional 1,080,561 shares during the period. Carmignac Gestion grew its position in Atlassian by 115.8% during the 1st 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 increased its stake in Atlassian by 48.4% in the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock worth $160,377,000 after purchasing an additional 766,922 shares during the period. KBC Group NV increased its stake in Atlassian by 1,691.2% in the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock worth $98,281,000 after purchasing an additional 1,359,624 shares during the period. Finally, SG Americas Securities LLC increased its stake in Atlassian by 1,516.7% in the 1st quarter. SG Americas Securities LLC now owns 905,629 shares of the technology company's stock worth $61,809,000 after purchasing an additional 849,613 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Zacks Research downgraded Atlassian from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Bank of America raised their target price on shares of Atlassian from $175.00 to $210.00 and gave the stock a "buy" rating in a report on Monday, August 31st. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, September 13th. Morgan Stanley lifted their target price on shares of Atlassian from $120.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Oppenheimer increased their price target on shares of Atlassian from $110.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Twenty-five investment 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $196.00.

Atlassian Trading Up 4.2%

Shares of TEAM stock traded up $8.57 during trading hours on Thursday, reaching $213.23. The company's stock had a trading volume of 1,647,828 shares, compared to its average volume of 5,674,333. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $214.77. The stock has a market capitalization of $54.11 billion, a P/E ratio of -1,122.12, a P/E/G ratio of 16.35 and a beta of 1.22. The firm's fifty day simple moving average is $181.48 and its 200 day simple moving average is $118.43.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating 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 the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The firm's revenue for the quarter was up 27.6% on a year-over-year basis. Equities research analysts expect that Atlassian Corporation PLC will post 0.94 EPS for the current year.

Insider Activity at Atlassian

In other Atlassian news, CFO James Chuong sold 9,054 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the transaction, the chief financial officer directly owned 279,218 shares of the company's stock, valued at approximately $48,151,144.10. The trade was a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction of $70,770.00. Following the completion of the transaction, the chief accounting officer owned 55,531 shares of the company's stock, valued at $11,661,510. This trade represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,475 shares of company stock worth $3,822,643 over the last quarter. Corporate insiders own 36.66% of the company's stock.

Atlassian Profile

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.

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