Natixis Advisors LLC Has $4.96 Million Stock Position in Atlassian Corporation PLC $TEAM

Key Points

• Natixis Advisors LLC cut its Atlassian stake by 59.3% in the fourth quarter, selling 44,504 shares and leaving it with 30,561 shares valued at about $4.96 million.
• Atlassian reported stronger-than-expected quarterly results, posting EPS of $1.75 versus the $1.33 consensus and revenue of $1.79 billion, up 31.7% year over year.
• Analysts remain generally constructive on TEAM, with a consensus rating of “Moderate Buy” and an average price target of $145.63, even as several firms recently adjusted their targets.

Natixis Advisors LLC decreased its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 59.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,561 shares of the technology company's stock after selling 44,504 shares during the quarter. Natixis Advisors LLC's holdings in Atlassian were worth $4,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp boosted its position in shares of Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock valued at $32,000 after purchasing an additional 199 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Atlassian in the 4th quarter valued at $32,000. Basepoint Wealth LLC acquired a new position in shares of Atlassian in the 4th quarter valued at $32,000. Bogart Wealth LLC boosted its position in shares of Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company's stock valued at $35,000 after purchasing an additional 94 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Atlassian in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Down 1.6%

Shares of TEAM stock opened at $97.89 on Tuesday. The stock's 50 day simple moving average is $79.55 and its 200 day simple moving average is $105.82. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of -117.94, a PEG ratio of 5.64 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business earned $0.97 EPS. The firm's revenue was up 31.7% compared to the same quarter last year. As a group, research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on TEAM. Guggenheim set a $115.00 price objective on Atlassian in a research report on Thursday, April 9th. Truist Financial raised their price objective on Atlassian from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Morgan Stanley decreased their price objective on Atlassian from $290.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. UBS Group decreased their price objective on Atlassian from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Finally, Zacks Research upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.63.

Insider Buying and Selling

In related news, CFO James Chuong sold 8,838 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares of the company's stock, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their position. The sale was disclosed in a legal filing 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 1,986 shares of the firm's 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 transaction, the executive directly owned 236,841 shares in the company, valued at $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. 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 worth $955,683 over the last three months. 36.66% of the stock is owned by company insiders.

Atlassian Company 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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