NZS Capital LLC Purchases 11,219 Shares of Atlassian Corporation PLC $TEAM

NZS Capital LLC boosted its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 5.6% during the third quarter, Holdings Channel reports. The fund owned 211,180 shares of the technology company’s stock after acquiring an additional 11,219 shares during the period. NZS Capital LLC’s holdings in Atlassian were worth $33,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. Capco Asset Management LLC bought a new position in shares of Atlassian during the second quarter valued at about $25,000. Physician Wealth Advisors Inc. lifted its holdings in 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. Geneos Wealth Management Inc. boosted its position in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. Atlantic Union Bankshares Corp grew its stake 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 purchasing an additional 199 shares during the period. Finally, Virtus Advisers LLC purchased a new position in Atlassian during the 2nd quarter valued at about $61,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Up 6.2%

NASDAQ TEAM opened at $78.35 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $117.45 and a two-hundred day simple moving average of $145.78. The stock has a market cap of $20.66 billion, a P/E ratio of -108.82, a P/E/G ratio of 292.34 and a beta of 0.94. Atlassian Corporation PLC has a 12-month low of $67.85 and a 12-month high of $278.11.

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

Wall Street Analyst Weigh In

TEAM has been the subject of a number of recent research reports. Citigroup lowered their price objective on Atlassian from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, January 21st. BMO Capital Markets set a $130.00 price target on Atlassian and gave the stock an “outperform” rating in a research report on Friday, February 6th. Wells Fargo & Company lowered their price objective on Atlassian from $216.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Finally, KeyCorp cut their price target on Atlassian from $210.00 to $170.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Twenty 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. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average target price of $189.32.

Insider Buying and Selling at Atlassian

In other Atlassian news, CFO Joseph Leo Binz sold 1,653 shares of the 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 $134,471.55. Following the sale, the chief financial officer directly owned 208,639 shares of the company’s stock, valued at approximately $16,972,782.65. This represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 275,940 shares of the company’s stock, valued at approximately $26,161,871.40. The trade was a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 405,121 shares of company stock worth $58,076,519. Insiders own 36.66% of the company’s stock.

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.