Rational Advisors Inc. Invests $1.89 Million in Atlassian Corporation PLC (NASDAQ:TEAM)

Rational Advisors Inc. bought a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,900 shares of the technology company's stock, valued at approximately $1,889,000.

Several other large investors also recently modified their holdings of the business. Clean Yield Group grew its stake in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the fourth quarter worth about $27,000. Colonial Trust Co SC grew its stake in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in Atlassian in the fourth quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the fourth quarter worth about $39,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $219.98, for a total value of $1,686,146.70. Following the transaction, the chief executive officer directly owned 444,570 shares of the company's stock, valued at approximately $97,796,508.60. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $219.98, for a total transaction of $1,686,146.70. Following the completion of the transaction, the director directly owned 444,570 shares in the company, valued at $97,796,508.60. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 417,631 shares of company stock worth $87,606,665. Company insiders own 38.55% of the company's stock.

Atlassian Price Performance

Atlassian stock traded down $13.04 during mid-day trading on Friday, hitting $187.01. The company's stock had a trading volume of 3,553,326 shares, compared to its average volume of 2,179,769. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $49.09 billion, a P/E ratio of -112.66 and a beta of 0.94. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The stock's fifty day moving average price is $207.96 and its two-hundred day moving average price is $234.00.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TEAM shares. Canaccord Genuity Group cut their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and cut their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Raymond James Financial reaffirmed an "outperform" rating and set a $300.00 price target (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, KeyCorp cut their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $285.75.

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.