National Pension Service Purchases 37,607 Shares of Atlassian Corporation PLC $TEAM

National Pension Service grew its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 15.5% in the fourth quarter, Holdings Channel reports. The fund owned 280,720 shares of the technology company’s stock after acquiring an additional 37,607 shares during the quarter. National Pension Service’s holdings in Atlassian were worth $45,516,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Physician Wealth Advisors Inc. lifted its stake in shares of Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after acquiring an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after acquiring an additional 199 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of Atlassian in the 4th quarter valued at $32,000. Basepoint Wealth LLC bought a new position in shares of Atlassian in the 4th quarter valued at $32,000. Finally, Bogart Wealth LLC lifted its stake in shares of Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after acquiring an additional 94 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $174,271.50. Following the completion of the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at approximately $20,782,797.75. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 10,891 shares of company stock valued at $955,683. Corporate insiders own 36.66% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $107.61 on Monday. The firm has a market cap of $27.31 billion, a P/E ratio of -129.65, a P/E/G ratio of 6.10 and a beta of 1.07. 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 Corporation PLC has a 12-month low of $56.01 and a 12-month high of $222.59. The business has a fifty day simple moving average of $75.55 and a 200 day simple moving average of $107.83.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.Atlassian’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. Analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BMO Capital Markets dropped their price target on Atlassian from $130.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Wall Street Zen cut Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Wolfe Research reaffirmed an “outperform” rating and set a $100.00 target price on shares of Atlassian in a research report on Thursday, March 12th. TD Cowen raised their target price on Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Finally, UBS Group lowered their target price on Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. 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 stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target 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.