Lisanti Capital Growth LLC Acquires 7,615 Shares of Atlassian Corporation PLC $TEAM

Lisanti Capital Growth LLC acquired a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the third quarter, Holdings Channel reports. The fund acquired 7,615 shares of the technology company’s stock, valued at approximately $1,365,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Carmignac Gestion grew its holdings in shares of Atlassian by 115.8% during the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after buying an additional 1,397,402 shares in the last quarter. KBC Group NV raised its position in shares of Atlassian by 1,691.2% in the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after buying an additional 1,359,624 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Atlassian by 48.4% in the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after buying an additional 766,922 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Atlassian by 947.7% in the first quarter. Quantinno Capital Management LP now owns 283,427 shares of the technology company’s stock worth $19,344,000 after buying an additional 256,374 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Atlassian by 111.7% in the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock worth $84,105,000 after buying an additional 247,540 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEAM. Robert W. Baird upped their price objective on shares of Atlassian from $200.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. Barclays decreased their target price on shares of Atlassian from $222.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday. Piper Sandler raised their target price on shares of Atlassian from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. FBN Securities restated an “outperform” rating and set a $170.00 target price on shares of Atlassian in a report on Monday, August 10th. Finally, KeyCorp upped their price target on Atlassian from $185.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. Twenty-four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.48.

Insider Buying and Selling

In related news, CFO James Chuong sold 9,054 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the sale, the chief financial officer directly owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. This trade represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,851 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $319,204.95. Following the completion of the sale, the executive owned 218,223 shares in the company, valued at approximately $37,632,556.35. This trade represents a 0.84% 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. In the last ninety days, insiders sold 21,738 shares of company stock valued at $3,701,038. 37.63% of the stock is currently owned by insiders.

Atlassian Stock Up 2.6%

Shares of NASDAQ TEAM opened at $152.44 on Thursday. The company has a market capitalization of $38.59 billion, a P/E ratio of 423.46, a P/E/G ratio of 15.40 and a beta of 1.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.72 and a quick ratio of 0.78. The company has a 50 day simple moving average of $193.74 and a 200-day simple moving average of $119.94. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $229.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.26. Atlassian had a return on equity of 33.53% and a net margin of 1.28%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business posted $1.04 earnings per share. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities research analysts predict that Atlassian Corporation PLC will post 0.69 earnings per share for the current year.

Atlassian Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams. Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration. Atlassian also offers cloud-based products and tools for distributed teams.