Kentucky Retirement Systems Buys New Holdings in Atlassian Corporation PLC (NASDAQ:TEAM)

Kentucky Retirement Systems acquired a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,032 shares of the technology company's stock, valued at approximately $2,341,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Clean Yield Group lifted its holdings in shares of Atlassian by 372.0% in 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 in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC lifted its holdings in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after purchasing an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Atlassian in the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 7,674 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $1,730,563.74. Following the completion of the transaction, the president now directly owns 192,260 shares in the company, valued at approximately $43,356,552.60. This represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $185.61, for a total value of $1,475,228.28. Following the completion of the transaction, the director now owns 333,816 shares of the company's stock, valued at $61,959,587.76. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 389,235 shares of company stock worth $81,434,805 in the last ninety days. 38.55% of the stock is currently owned by insiders.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $7.93 during midday trading on Tuesday, reaching $200.67. 2,171,102 shares of the company traded hands, compared to its average volume of 2,143,766. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00. The firm has a market capitalization of $52.68 billion, a price-to-earnings ratio of -120.89 and a beta of 0.96. The firm's fifty day moving average price is $210.03 and its two-hundred day moving average price is $239.10.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.36 billion for 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%. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. On average, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays dropped their target price on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Jefferies Financial Group dropped their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Wells Fargo & Company dropped their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Morgan Stanley dropped their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Stephens dropped their price target on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $282.19.

About Atlassian

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.