Generali Investments Towarzystwo Funduszy Inwestycyjnych Invests $1.36 Million in Atlassian Corporation PLC $TEAM

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in Atlassian during the first quarter, acquiring 20,000 shares worth about $1.36 million.
• Atlassian has strong institutional ownership overall, with 94.45% of shares held by hedge funds and other institutional investors. Several other funds also recently increased their positions.
• Analysts remain generally constructive on TEAM, with a consensus rating of “Moderate Buy” and an average price target of $145.26, while the stock recently opened at $74.68 after being down 8.4%.

Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the technology company's stock, valued at approximately $1,365,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Atlassian by 12.0% in the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company's stock valued at $100,000 after buying an additional 66 shares during the period. Snowden Capital Advisors LLC increased its stake in shares of Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company's stock worth $907,000 after buying an additional 71 shares during the period. Financial Perspectives Inc raised its holdings in Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company's stock valued at $116,000 after acquiring an additional 75 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Atlassian by 20.5% in the third quarter. Clearstead Advisors LLC now owns 488 shares of the technology company's stock valued at $78,000 after acquiring an additional 83 shares in the last quarter. Finally, Slow Capital Inc. lifted its stake in Atlassian by 0.3% in the fourth quarter. Slow Capital Inc. now owns 33,486 shares of the technology company's stock worth $5,429,000 after acquiring an additional 84 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TEAM. Guggenheim set a $115.00 price target on shares of Atlassian in a report on Thursday, April 9th. TD Cowen raised their price objective on shares of Atlassian from $85.00 to $105.00 and gave the company a "hold" rating in a report on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Atlassian in a research report on Monday, March 16th. They set an "outperform" rating and a $95.00 price objective for the company. Cantor Fitzgerald boosted their target price on shares of Atlassian from $98.00 to $107.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group dropped their target price on Atlassian from $185.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $145.26.

Insiders Place Their Bets

In other news, CFO James Chuong sold 8,838 shares of Atlassian 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 sale, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. 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, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive owned 227,691 shares in the company, valued at $20,426,159.61. This trade represents a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 20,041 shares of company stock valued at $1,801,069. 36.66% of the stock is owned by corporate insiders.

Atlassian Stock Down 8.4%

TEAM stock opened at $74.68 on Friday. The stock has a market cap of $18.95 billion, a P/E ratio of -89.98, a PEG ratio of 4.62 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The company's 50 day moving average is $84.99 and its two-hundred day moving average is $99.87.

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

About Atlassian

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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