Delta Global Management LP Sells 10,125 Shares of Atlassian Corporation PLC $TEAM

Delta Global Management LP reduced its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 29.3% in the fourth quarter, Holdings Channel reports. The fund owned 24,437 shares of the technology company’s stock after selling 10,125 shares during the quarter. Delta Global Management LP’s holdings in Atlassian were worth $3,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Atlassian by 12.0% during the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after acquiring an additional 66 shares during the last quarter. Snowden Capital Advisors LLC boosted its position in shares of 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 acquiring an additional 71 shares during the last quarter. Financial Perspectives Inc boosted its position in shares of Atlassian by 11.7% during the 4th quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after acquiring an additional 75 shares during the last quarter. ABN Amro Investment Solutions boosted its position in shares of Atlassian by 3.4% during the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after acquiring an additional 80 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of Atlassian by 20.5% during the 3rd quarter. Clearstead Advisors LLC now owns 488 shares of the technology company’s stock valued at $78,000 after acquiring an additional 83 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. This trade represents a 2.97% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction on Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 20,041 shares of company stock valued at $1,801,069. Corporate insiders own 36.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TEAM shares. Barclays upped their price objective on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. TD Cowen upped their price objective on Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Wall Street Zen downgraded Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Oppenheimer raised their price target on Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Truist Financial raised their price target on Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

Atlassian Stock Up 3.4%

Shares of TEAM opened at $91.55 on Tuesday. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The company has a market cap of $23.23 billion, a PE ratio of -110.30, a P/E/G ratio of 5.02 and a beta of 1.07. The business has a fifty day moving average of $81.92 and a 200 day moving average of $103.87. 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 released its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.97 earnings per share. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current 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.