Capital International Ltd. CA Sells 21,614 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Capital International Ltd. CA cut its Atlassian stake by 54.6% in the fourth quarter, selling 21,614 shares and leaving it with 17,997 shares valued at about $2.9 million.
• Several other institutional investors also adjusted positions in Atlassian (NASDAQ:TEAM), and institutions still hold a large majority of the stock at 94.45% ownership.
• Atlassian reported better-than-expected quarterly results, with EPS of $1.75 versus $1.33 expected and revenue up 31.7% year over year, while analysts currently rate the stock a Moderate Buy with an average price target of $145.63.

Capital International Ltd. CA lessened its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 54.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,997 shares of the technology company's stock after selling 21,614 shares during the period. Capital International Ltd. CA's holdings in Atlassian were worth $2,918,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Havemeyer Place LP bought a new stake 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 buying an additional 242 shares during the last quarter. 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 buying an additional 3,546 shares during the last quarter. Pinebridge Investments LLC acquired a new position in shares of Atlassian in the 4th quarter valued at about $6,346,000. Finally, WINTON GROUP Ltd acquired 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.

Insider Buying and Selling

In related news, CFO James Chuong sold 8,838 shares of the company's 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 transaction, the chief financial officer directly owned 288,272 shares of the company's stock, valued at approximately $25,295,868. This represents a 2.97% decrease in their position. The transaction was disclosed in a filing 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, CRO Brian Duffy sold 1,986 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $174,271.50. Following the transaction, the executive directly owned 236,841 shares in the company, valued at approximately $20,782,797.75. This trade represents a 0.83% decrease in their ownership of the stock. 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. 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 company insiders.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $99.47 on Monday. The business's 50-day moving average is $78.95 and its 200-day moving average is $106.17. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $222.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $25.24 billion, a price-to-earnings ratio of -119.84, a P/E/G ratio of 5.64 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. Equities research analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued an "outperform" rating and issued a $295.00 price objective on shares of Atlassian in a research note on Friday, May 1st. Mizuho dropped their price objective on Atlassian from $185.00 to $145.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 14th. KeyCorp dropped their price objective on Atlassian from $170.00 to $130.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. BTIG Research boosted their price objective on Atlassian from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, Wolfe Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Atlassian in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $145.63.

Atlassian Company 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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