Capital International Inc. CA Sells 74,153 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Capital International Inc. CA cut its Atlassian stake by 51.4% in the fourth quarter, selling 74,153 shares and ending with 70,135 shares worth about $11.4 million.
• Atlassian reported stronger-than-expected quarterly results, posting $1.75 EPS versus the $1.33 estimate and revenue of $1.79 billion, up 31.7% year over year.
• Analysts remain generally positive on the stock, with an average rating of Moderate Buy and an average price target of $145.63, despite some mixed recent rating changes.

Capital International Inc. CA lessened its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 51.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,135 shares of the technology company's stock after selling 74,153 shares during the period. Capital International Inc. CA's holdings in Atlassian were worth $11,372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Havemeyer Place LP bought a new position in shares of Atlassian in the 4th quarter valued at about $1,178,000. 111 Capital grew its position in shares of Atlassian by 14.9% in the 4th quarter. 111 Capital now owns 1,864 shares of the technology company's stock valued at $302,000 after acquiring an additional 242 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Atlassian by 49.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,667 shares of the technology company's stock valued at $1,730,000 after acquiring an additional 3,546 shares during the period. Pinebridge Investments LLC bought a new position in shares of Atlassian in the 4th quarter valued at about $6,346,000. Finally, WINTON GROUP Ltd bought a new position in shares of Atlassian in the 4th quarter valued at about $12,650,000. Institutional investors own 94.45% of the company's stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $99.47 on Monday. The firm has a 50-day moving average of $78.95 and a 200-day moving average of $106.17. 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 stock has a market cap of $25.24 billion, a PE ratio of -119.84, a P/E/G ratio of 5.64 and a beta of 1.07. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59.

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

Insider Transactions at Atlassian

In related news, CRO Brian Duffy sold 1,986 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the transaction, the executive directly owned 236,841 shares of the company's stock, valued at approximately $20,782,797.75. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 8,838 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 10,891 shares of company stock worth $955,683. 36.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wolfe Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Atlassian in a research report on Thursday, March 12th. Truist Financial lifted their price objective on shares of Atlassian from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Wall Street Zen cut shares of Atlassian from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 30th. Sanford C. Bernstein restated an "outperform" rating and set a $295.00 target price on shares of Atlassian in a research note on Friday, May 1st. Finally, UBS Group cut their target price on shares of Atlassian from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $145.63.

Atlassian Profile

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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