Maxi Investments CY Ltd Boosts Position in Atlassian Corporation PLC $TEAM

Maxi Investments CY Ltd boosted its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 327.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,000 shares of the technology company’s stock after purchasing an additional 58,200 shares during the period. Atlassian comprises 1.0% of Maxi Investments CY Ltd’s investment portfolio, making the stock its 7th largest position. Maxi Investments CY Ltd’s holdings in Atlassian were worth $12,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. increased its stake in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares during the period. Snowden Capital Advisors LLC boosted its position in Atlassian by 1.6% during the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after buying an additional 71 shares during the period. Cetera Investment Advisers boosted its position in Atlassian by 0.3% during the 2nd quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company’s stock valued at $5,038,000 after buying an additional 79 shares during the period. ABN Amro Investment Solutions grew its holdings in Atlassian by 3.4% in the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock worth $392,000 after acquiring an additional 80 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC increased its position in shares of Atlassian by 6.6% in the third quarter. Allegiance Financial Group Advisory Services LLC now owns 1,307 shares of the technology company’s stock valued at $209,000 after acquiring an additional 81 shares during the period. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TEAM. Sanford C. Bernstein upped their price objective on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. UBS Group reissued a “neutral” rating and issued a $105.00 target price on shares of Atlassian in a research note on Friday, February 6th. Wells Fargo & Company reduced their price target on Atlassian from $216.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Wall Street Zen lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, BTIG Research dropped their price objective on Atlassian from $220.00 to $140.00 and set a “buy” rating for the company in a report on Friday, February 6th. Twenty-two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.78.

Insider Buying and Selling at Atlassian

In other news, CTO Rajeev Bashyam Rajan sold 3,072 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $249,907.20. Following the transaction, the chief technology officer owned 212,916 shares in the company, valued at approximately $17,320,716.60. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $94.81, for a total transaction of $726,718.65. Following the sale, the director owned 275,940 shares in the company, valued at approximately $26,161,871.40. The trade was a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 327,943 shares of company stock worth $45,665,135 in the last 90 days. Insiders own 36.66% of the company’s stock.

Atlassian Trading Up 1.3%

NASDAQ:TEAM opened at $76.17 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $20.09 billion, a P/E ratio of -105.79 and a beta of 0.94. The company’s 50-day simple moving average is $102.63 and its 200 day simple moving average is $140.03. Atlassian Corporation PLC has a one year low of $67.85 and a one year high of $242.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. As a group, analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

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.