Y Intercept Hong Kong Ltd Acquires 196,086 Shares of Atlassian Corporation PLC $TEAM

Y Intercept Hong Kong Ltd raised its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 424.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,318 shares of the technology company’s stock after acquiring an additional 196,086 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Atlassian were worth $16,538,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. MV Capital Management Inc. purchased a new position in Atlassian in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its position in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Atlassian in the 4th quarter valued at about $32,000. Basepoint Wealth LLC bought a new stake in shares of Atlassian in the 4th quarter valued at about $32,000. Finally, Garton & Associates Financial Advisors LLC purchased a new position in shares of Atlassian in the 4th quarter worth approximately $32,000. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TEAM shares. Morgan Stanley reduced their price objective on shares of Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Citizens Jmp reaffirmed a “market perform” rating on shares of Atlassian in a report on Wednesday. Wall Street Zen downgraded Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a report on Monday, April 20th. Finally, TD Cowen raised their price objective on Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $145.26.

Insider Buying and Selling

In other Atlassian news, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares in the company, valued at $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,041 shares of company stock valued at $1,801,069 over the last three months. 36.66% of the stock is currently owned by insiders.

Atlassian Price Performance

Shares of TEAM opened at $83.84 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The company’s fifty day moving average price is $86.15 and its 200-day moving average price is $97.01. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $222.59. The firm has a market capitalization of $21.28 billion, a PE ratio of -101.01, a price-to-earnings-growth ratio of 4.69 and a beta of 1.11.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business posted $0.97 EPS. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. On average, equities research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Atlassian 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.