Quantinno Capital Management LP Has $19.34 Million Holdings in Atlassian Corporation PLC $TEAM

Key Points

• Quantinno Capital Management increased its Atlassian stake by 947.7% in the first quarter, acquiring 256,374 additional shares for a total holding valued at $19.34 million. Institutional investors collectively own 94.45% of TEAM.
• Atlassian reported quarterly revenue of $1.79 billion, up 31.7% year over year, and EPS of $1.75, exceeding analysts’ $1.33 estimate.
• TEAM shares opened at $101.01, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $138.50; insiders have sold 20,041 shares worth $1.8 million over the past 90 days.

Quantinno Capital Management LP raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 947.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,427 shares of the technology company's stock after purchasing an additional 256,374 shares during the quarter. Quantinno Capital Management LP owned 0.11% of Atlassian worth $19,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management lifted its position in shares of Atlassian by 16.3% during the fourth quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company's stock valued at $41,273,000 after purchasing an additional 35,682 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Atlassian by 3.9% in the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company's stock valued at $1,367,132,000 after purchasing an additional 316,276 shares during the last quarter. Exane Asset Management lifted its position in shares of Atlassian by 419.9% during the 4th quarter. Exane Asset Management now owns 31,363 shares of the technology company's stock valued at $5,085,000 after buying an additional 25,330 shares during the last quarter. Nicholas Company Inc. lifted its holdings in Atlassian by 8.7% during the fourth quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company's stock valued at $49,748,000 after purchasing an additional 24,490 shares during the last quarter. Finally, Fisher Funds Management LTD boosted its holdings in Atlassian by 11.1% in the 4th quarter. Fisher Funds Management LTD now owns 334,011 shares of the technology company's stock worth $54,440,000 after buying an additional 33,485 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Atlassian

In other Atlassian news, CFO James Chuong sold 8,838 shares of the stock in a transaction on 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 directly owned 288,272 shares in the company, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the transaction, the executive directly owned 227,691 shares in the company, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,041 shares of company stock worth $1,801,069 over the last ninety days. 36.66% of the stock is currently owned by insiders.

Atlassian Stock Up 2.9%

Shares of Atlassian stock opened at $101.01 on Friday. The company has a 50-day moving average of $90.49 and a 200 day moving average of $87.46. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $199.09. The firm has a market cap of $25.63 billion, a price-to-earnings ratio of -121.70, a PEG ratio of 7.17 and a beta of 1.11. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 positive return on equity of 6.22% and a negative net margin of 3.50%.The firm's quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TEAM shares. Weiss Ratings restated a "sell (e+)" rating on shares of Atlassian in a research note on Friday, July 17th. Truist Financial raised their price target on Atlassian from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, May 1st. TD Cowen boosted their price objective on shares of Atlassian from $85.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, May 1st. Zacks Research lowered Atlassian from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Piper Sandler cut their price target on shares of Atlassian from $200.00 to $175.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Twenty-one equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $138.50.

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.

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Corporation PLC (NASDAQ:TEAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.