Erste Asset Management GmbH Grows Position in Atlassian Corporation PLC $TEAM

Erste Asset Management GmbH boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 29.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,000 shares of the technology company’s stock after purchasing an additional 17,000 shares during the period. Erste Asset Management GmbH’s holdings in Atlassian were worth $12,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atlantic Union Bankshares Corp raised its holdings in Atlassian by 19,900.0% during the third 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 period. Board of the Pension Protection Fund bought a new stake in Atlassian during the fourth quarter valued at about $32,000. Basepoint Wealth LLC bought a new stake in Atlassian during the fourth quarter valued at about $32,000. Bogart Wealth LLC raised its holdings in Atlassian by 76.4% during the fourth 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 period. Finally, VSM Wealth Advisory LLC bought a new stake in Atlassian during the fourth quarter valued at about $41,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Price Performance

NASDAQ:TEAM opened at $97.89 on Tuesday. 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 company has a market capitalization of $24.84 billion, a P/E ratio of -117.94, a P/E/G ratio of 5.64 and a beta of 1.07. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The business’s 50-day moving average is $79.55 and its 200 day moving average is $105.82.

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

Insider Transactions at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the business’s 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 sale, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 1,986 shares of the business’s 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 sale, the executive owned 236,841 shares in the company, valued at $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. Insiders sold 10,891 shares of company stock worth $955,683 over the last quarter. 36.66% of the stock is owned by company insiders.

Analyst Ratings Changes

TEAM has been the topic of a number of recent analyst reports. Zacks Research raised Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Wolfe Research reissued an “outperform” rating and set a $100.00 price target on shares of Atlassian in a report on Thursday, March 12th. Barclays raised their price target on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Morgan Stanley decreased their price target on Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Finally, Oppenheimer raised their price target on Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, May 11th. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

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.