Eurizon Capital SGR S.p.A. Makes New $9.88 Million Investment in Atlassian Corporation PLC $TEAM

Key Points

• Eurizon Capital SGR initiated a new position in Atlassian during the fourth quarter, buying 60,916 shares worth about $9.88 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 94.45% of Atlassian shares. Several other investors also increased or opened stakes in the company.
• Insiders sold shares recently: CRO Brian Duffy and CFO James Chuong sold stock in May, largely to cover tax withholding obligations tied to vested equity awards.

Eurizon Capital SGR S.p.A. bought a new position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 60,916 shares of the technology company's stock, valued at approximately $9,877,000.

A number of other institutional investors have also bought and sold shares of the business. National Pension Service lifted its stake in Atlassian by 15.5% in the 4th quarter. National Pension Service now owns 280,720 shares of the technology company's stock worth $45,516,000 after purchasing an additional 37,607 shares in the last quarter. Basepoint Wealth LLC purchased a new position in Atlassian in the 4th quarter worth approximately $32,000. Rothschild Investment LLC lifted its stake in Atlassian by 109.1% in the 4th quarter. Rothschild Investment LLC now owns 6,009 shares of the technology company's stock worth $974,000 after purchasing an additional 3,135 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co lifted its stake in Atlassian by 164.3% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 92,500 shares of the technology company's stock worth $14,998,000 after purchasing an additional 57,500 shares in the last quarter. Finally, Baker Avenue Asset Management LP purchased a new position in Atlassian in the 4th quarter worth approximately $243,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 1,986 shares of Atlassian stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $174,271.50. Following the completion of the sale, the executive owned 236,841 shares in the company, valued at approximately $20,782,797.75. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Atlassian stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the sale, the chief financial officer owned 288,272 shares of the company's stock, valued at $25,295,868. This trade represents a 2.97% decrease in their position. 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. Insiders sold a total of 10,891 shares of company stock valued at $955,683 in the last quarter. 36.66% of the stock is owned by insiders.

Atlassian Price Performance

TEAM stock opened at $107.61 on Monday. The firm has a market cap of $27.31 billion, a PE ratio of -129.65, a PEG ratio of 6.10 and a beta of 1.07. 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 firm's 50 day moving average price is $75.55 and its 200-day moving average price is $107.83. Atlassian Corporation PLC has a one year low of $56.01 and a one year 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 for the quarter, beating the consensus estimate 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 firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm earned $0.97 EPS. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities research analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on TEAM shares. Canaccord Genuity Group reduced their price target on shares of Atlassian from $185.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, April 15th. Zacks Research raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. Morgan Stanley reduced their price target on shares of Atlassian from $290.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 16th. Citigroup reduced their price target on shares of Atlassian from $160.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Atlassian in a research report on Monday, April 20th. One equities research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently 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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