Caxton Associates LLP Makes New $542,000 Investment in Atlassian Corporation PLC $TEAM

Key Points

• Caxton Associates LLP has made a new investment of $542,000 in Atlassian Corporation PLC, acquiring 2,554 shares in the first quarter of 2023.
• Significant increases in holdings of Atlassian shares were reported by other hedge funds, with Clean Yield Group raising its stake by 372.0%.
• Atlassian recently reported $0.98 earnings per share for the last quarter, surpassing analyst expectations of $0.83, with revenue rising 22.3% year-over-year.

Caxton Associates LLP acquired a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,554 shares of the technology company's stock, valued at approximately $542,000.

Several other hedge funds have also recently made changes to their positions in TEAM. Clean Yield Group raised its holdings in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after purchasing an additional 93 shares during the last quarter. Smithfield Trust Co raised its holdings in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after purchasing an additional 78 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Atlassian by 82.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after purchasing an additional 110 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Atlassian by 25.9% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after purchasing an additional 55 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after purchasing an additional 47 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $176.71 on Friday. The firm has a fifty day moving average price of $183.14 and a 200-day moving average price of $204.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $46.36 billion, a PE ratio of -178.49 and a beta of 0.95. Atlassian Corporation PLC has a 1 year low of $154.07 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $175.76, for a total value of $1,347,200.40. Following the completion of the sale, the director directly owned 107,310 shares of the company's stock, valued at $18,860,805.60. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total transaction of $1,347,200.40. Following the completion of the sale, the chief executive officer directly owned 107,310 shares of the company's stock, valued at approximately $18,860,805.60. This trade represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 536,278 shares of company stock valued at $100,612,557. Corporate insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TEAM. UBS Group reissued a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Capital One Financial lowered shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target for the company. in a research report on Wednesday, July 16th. Stephens reduced their price target on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Wall Street Zen lowered shares of Atlassian from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Truist Financial set a $230.00 price target on shares of Atlassian in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $255.45.

Atlassian 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.

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