KP Management LLC Acquires 8,500 Shares of Atlassian Corporation PLC $TEAM

KP Management LLC lifted its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 70.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 20,500 shares of the technology company’s stock after purchasing an additional 8,500 shares during the period. KP Management LLC’s holdings in Atlassian were worth $4,163,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State of Wyoming lifted its holdings in Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after buying an additional 47 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of Atlassian by 2.8% during the 1st quarter. EP Wealth Advisors LLC now owns 2,641 shares of the technology company’s stock worth $561,000 after purchasing an additional 71 shares during the last quarter. Snowden Capital Advisors LLC boosted its position in Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Atlassian by 11.5% in the first quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company’s stock valued at $156,000 after purchasing an additional 74 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in Atlassian by 5.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 1,412 shares of the technology company’s stock worth $300,000 after purchasing an additional 74 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35. Following the sale, the director directly owned 99,645 shares of the company’s stock, valued at approximately $16,121,564.55. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $161.79, for a total value of $1,240,120.35. Following the sale, the chief executive officer directly owned 107,310 shares in the company, valued at $17,361,684.90. This represents a 6.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 581,181 shares of company stock worth $91,738,233 over the last ninety days. Insiders own 36.66% of the company’s stock.

Atlassian Stock Down 0.7%

Atlassian stock opened at $162.04 on Friday. The business’s 50-day simple moving average is $155.86 and its two-hundred day simple moving average is $175.53. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $42.63 billion, a PE ratio of -228.22, a PEG ratio of 30.56 and a beta of 0.89. Atlassian Corporation PLC has a fifty-two week low of $139.70 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue was up 20.6% compared to the same quarter last year. Equities analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of Atlassian in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price objective on the stock. BMO Capital Markets lifted their price target on shares of Atlassian from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. UBS Group decreased their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Guggenheim started coverage on Atlassian in a research note on Thursday, September 11th. They set a “buy” rating and a $225.00 target price on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $230.00 price target on shares of Atlassian in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

Atlassian Company Profile

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.