AustralianSuper Pty Ltd Raises Position in Atlassian Corporation PLC $TEAM

AustralianSuper Pty Ltd raised its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 50.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,984 shares of the technology company’s stock after purchasing an additional 27,327 shares during the period. AustralianSuper Pty Ltd’s holdings in Atlassian were worth $13,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. raised its position in Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the period. Geneos Wealth Management Inc. lifted its position in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in Atlassian in the fourth quarter worth $32,000. Finally, Bogart Wealth LLC lifted its position in Atlassian by 76.4% in the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after buying an additional 94 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Atlassian

In related news, CTO Rajeev Bashyam Rajan sold 3,072 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $249,907.20. Following the completion of the sale, the chief technology officer owned 212,916 shares in the company, valued at approximately $17,320,716.60. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Brian Duffy sold 1,222 shares of the business’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 $99,409.70. Following the completion of the sale, the executive owned 124,332 shares of the company’s stock, valued at $10,114,408.20. The trade was a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 6,013 shares of company stock worth $489,158. Company insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

TEAM stock opened at $87.46 on Friday. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $223.42. The business’s fifty day simple moving average is $73.24 and its two-hundred day simple moving average is $113.39. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of -105.37, a PEG ratio of 4.58 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. 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 revenue for the quarter was up 31.7% on a year-over-year basis. Analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of recent analyst reports. UBS Group dropped their price target on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Truist Financial lifted their price target on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Zacks Research raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group set a $150.00 price target on shares of Atlassian in a research note on Friday, February 6th. Finally, Barclays upped their target price on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

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.