Atlassian Corporation PLC $TEAM Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 26.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,119 shares of the technology company’s stock after buying an additional 4,997 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Atlassian were worth $1,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Vanguard Group Inc. increased its position in shares of Atlassian by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock worth $3,006,281,000 after acquiring an additional 61,706 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Atlassian by 3.9% in the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock valued at $1,367,132,000 after purchasing an additional 316,276 shares during the last quarter. AQR Capital Management LLC grew its stake in Atlassian by 291.4% during the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after purchasing an additional 5,769,788 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Atlassian by 27.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after purchasing an additional 1,080,561 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Atlassian by 52.4% during the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after purchasing an additional 1,657,309 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other 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 shares were 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. The trade was a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the transaction, the executive directly owned 227,691 shares of the company’s stock, valued at $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. Insiders sold a total of 20,041 shares of company stock valued at $1,801,069 over the last ninety days. Company insiders own 36.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TEAM. Truist Financial upped their target price on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Bank of America decreased their price target on shares of Atlassian from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. Raymond James Financial restated an “outperform” rating on shares of Atlassian in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Atlassian from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, Citigroup reduced their price objective on shares of Atlassian from $160.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Twenty-one analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $138.50.

Atlassian Stock Performance

Shares of TEAM opened at $104.28 on Thursday. The stock has a market capitalization of $26.46 billion, a PE ratio of -125.64, a price-to-earnings-growth ratio of 7.05 and a beta of 1.11. The business’s fifty day moving average price is $89.86 and its 200 day moving average price is $87.70. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $200.39.

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

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.