Kentucky Retirement Systems Insurance Trust Fund Takes Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,699 shares of the technology company's stock, valued at approximately $997,000.

A number of other hedge funds also recently bought and sold shares of TEAM. Principal Financial Group Inc. boosted its position in Atlassian by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 11,531 shares of the technology company's stock worth $2,806,000 after purchasing an additional 761 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Atlassian by 17.5% during the fourth quarter. Global Retirement Partners LLC now owns 787 shares of the technology company's stock valued at $192,000 after acquiring an additional 117 shares during the last quarter. Transcend Capital Advisors LLC acquired a new position in shares of Atlassian during the fourth quarter valued at approximately $305,000. Howard Capital Management Inc. raised its holdings in shares of Atlassian by 3.2% during the fourth quarter. Howard Capital Management Inc. now owns 4,369 shares of the technology company's stock valued at $1,063,000 after acquiring an additional 134 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Atlassian during the fourth quarter valued at approximately $2,976,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $192.68, for a total transaction of $1,476,892.20. Following the completion of the sale, the chief executive officer now directly owns 38,325 shares of the company's stock, valued at $7,384,461. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $229.64, for a total value of $1,825,178.72. Following the completion of the sale, the director now directly owns 23,844 shares of the company's stock, valued at $5,475,536.16. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 389,235 shares of company stock worth $81,434,805. Company insiders own 38.55% of the company's stock.

Atlassian Trading Up 4.1%

Shares of NASDAQ TEAM traded up $7.93 during trading on Tuesday, reaching $200.67. The stock had a trading volume of 2,171,102 shares, compared to its average volume of 2,143,766. The company has a market cap of $52.68 billion, a P/E ratio of -120.89 and a beta of 0.96. The business's 50-day moving average price is $210.03 and its 200-day moving average price is $239.10. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. Atlassian's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. On average, equities research analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research analyst reports. UBS Group reduced their target price on Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a report on Sunday. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. KeyCorp cut their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Canaccord Genuity Group cut their price target on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $282.19.

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.