Makena Capital Management LLC Has $9.70 Million Stock Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Makena Capital Management LLC boosted its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 48.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,688 shares of the technology company’s stock after buying an additional 14,959 shares during the quarter. Atlassian makes up approximately 1.0% of Makena Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Makena Capital Management LLC’s holdings in Atlassian were worth $9,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Clean Yield Group raised its holdings in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after acquiring an additional 93 shares during the period. Colonial Trust Co SC increased its stake in shares of Atlassian by 100.0% during 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 during the period. Smithfield Trust Co increased its stake in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after purchasing an additional 78 shares during the period. GeoWealth Management LLC boosted its stake in Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock valued at $44,000 after purchasing an additional 38 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company’s stock valued at $52,000 after buying an additional 110 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 765 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $163.43, for a total value of $125,023.95. Following the transaction, the chief accounting officer owned 50,595 shares of the company’s stock, valued at approximately $8,268,740.85. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.26, for a total value of $1,251,387.90. Following the completion of the sale, the director owned 245,280 shares in the company, valued at $40,044,412.80. This trade represents a 3.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 532,177 shares of company stock worth $105,031,262 in the last three months. 38.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEAM. Macquarie cut their target price on Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Capital One Financial downgraded Atlassian from an “overweight” rating to an “equal weight” rating and set a $211.00 price target for the company. in a research note on Wednesday, July 16th. Wells Fargo & Company reduced their price objective on shares of Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. UBS Group restated a “hold” rating on shares of Atlassian in a research report on Monday, July 7th. Finally, Cantor Fitzgerald reduced their price target on shares of Atlassian from $256.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $259.76.

Atlassian Trading Up 1.6%

NASDAQ:TEAM opened at $167.00 on Friday. Atlassian Corporation PLC has a 12 month low of $145.88 and a 12 month high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $194.44 and its 200 day moving average is $222.16. The stock has a market capitalization of $43.84 billion, a PE ratio of -168.69 and a beta of 0.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. Sell-side analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

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.