Intech Investment Management LLC Sells 68,754 Shares of Atlassian Corporation PLC $TEAM

Intech Investment Management LLC lessened its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 48.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,230 shares of the technology company’s stock after selling 68,754 shares during the quarter. Intech Investment Management LLC’s holdings in Atlassian were worth $11,711,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Physician Wealth Advisors Inc. lifted its position in shares of 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 purchasing an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of 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 in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Atlassian in the fourth quarter worth $32,000. Bogart Wealth LLC lifted its position in shares of Atlassian by 76.4% in the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after purchasing an additional 94 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Atlassian in the fourth quarter worth $41,000. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, CFO James Chuong sold 8,838 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the transaction, the executive owned 236,841 shares in the company, valued at approximately $20,782,797.75. This represents a 0.83% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 10,891 shares of company stock worth $955,683. Corporate insiders own 36.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TEAM. Oppenheimer boosted their price objective on shares of Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $295.00 price target on shares of Atlassian in a research report on Friday, May 1st. BNP Paribas Exane initiated coverage on shares of Atlassian in a research report on Monday, March 16th. They set an “outperform” rating and a $95.00 price target on the stock. TD Cowen upped their price target on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Finally, Truist Financial upped their price target on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

Atlassian Stock Performance

NASDAQ TEAM opened at $107.61 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm’s fifty day moving average price is $75.55 and its two-hundred day moving average price is $108.19. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $222.59. The firm has a market capitalization of $27.31 billion, a P/E ratio of -129.65, a price-to-earnings-growth ratio of 5.29 and a beta of 0.90.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, research analysts anticipate 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.