Calamos Advisors LLC Invests $9.16 Million in Atlassian Corporation PLC (NASDAQ:TEAM)

Calamos Advisors LLC bought a new position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 43,157 shares of the technology company's stock, valued at approximately $9,158,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $27,000. Clean Yield Group raised its position in shares of Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares in the last quarter. Colonial Trust Co SC grew its stake in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Trading Up 0.3%

TEAM stock traded up $0.74 during mid-day trading on Wednesday, hitting $220.10. 1,045,321 shares of the company were exchanged, compared to its average volume of 2,159,444. The business has a fifty day simple moving average of $209.12 and a 200-day simple moving average of $234.94. The firm has a market capitalization of $57.78 billion, a P/E ratio of -132.59 and a beta of 0.94. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the prior year, the business posted $0.89 EPS. The business's revenue was up 14.1% on a year-over-year basis. On average, equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TEAM. Stephens cut their price objective on Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. BMO Capital Markets reduced their price objective on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Mizuho decreased their price objective on Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a report on Thursday, June 12th. Barclays dropped their price target on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $300.00 price objective (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $282.19.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $209.19, for a total transaction of $1,662,642.12. Following the sale, the chief executive officer owned 158,960 shares of the company's stock, valued at approximately $33,252,842.40. This represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total value of $1,643,646.40. Following the sale, the director owned 174,856 shares in the company, valued at $36,160,220.80. This represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 410,249 shares of company stock valued at $85,791,465 over the last ninety days. 38.55% of the stock is owned by insiders.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.