Atlassian Corporation PLC $TEAM Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 3.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 346,327 shares of the technology company’s stock after selling 11,311 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.14% of Atlassian worth $62,093,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Carmignac Gestion grew its holdings in shares of Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after purchasing an additional 1,397,402 shares during the period. First Trust Advisors LP increased its position in shares of Atlassian by 48.4% during the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after purchasing an additional 766,922 shares during the last quarter. KBC Group NV increased its position in shares of Atlassian by 1,691.2% during the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after purchasing an additional 1,359,624 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Atlassian by 111.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock worth $84,105,000 after purchasing an additional 247,540 shares during the last quarter. Finally, Artemis Investment Management LLP increased its position in shares of Atlassian by 53.0% during the 3rd quarter. Artemis Investment Management LLP now owns 461,537 shares of the technology company’s stock worth $82,749,000 after purchasing an additional 159,884 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Mizuho boosted their price objective on shares of Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Robert W. Baird increased their target price on shares of Atlassian from $200.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, September 28th. Wells Fargo & Company lifted their price target on shares of Atlassian from $230.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Morgan Stanley boosted their price target on shares of Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Citigroup upped their price objective on shares of Atlassian from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Twenty-three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.76.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 1,125 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total transaction of $196,875.00. Following the sale, the chief accounting officer owned 56,807 shares of the company’s stock, valued at approximately $9,941,225. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Brian Duffy sold 7,617 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the transaction, the executive directly owned 220,074 shares of the company’s stock, valued at approximately $35,872,062. The trade was a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 22,475 shares of company stock valued at $3,822,643 in the last three months. 37.63% of the stock is owned by corporate insiders.

Atlassian Trading Up 2.1%

Shares of NASDAQ TEAM opened at $191.05 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $48.36 billion, a PE ratio of -1,005.53, a PEG ratio of 19.95 and a beta of 1.16. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $229.96. The stock has a fifty day simple moving average of $195.93 and a 200-day simple moving average of $118.76.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Atlassian’s revenue was up 27.6% on a year-over-year basis. On average, equities analysts forecast that Atlassian Corporation PLC will post 0.69 earnings per share for the current year.

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.