Louisiana State Employees Retirement System Buys New Stake in Atlassian Corporation PLC $TEAM

Louisiana State Employees Retirement System bought a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 11,100 shares of the technology company’s stock, valued at approximately $758,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MV Capital Management Inc. acquired a new position in shares of Atlassian during the fourth quarter worth approximately $25,000. Board of the Pension Protection Fund acquired a new stake in Atlassian during the fourth quarter worth about $32,000. Basepoint Wealth LLC bought a new position in Atlassian during the fourth quarter valued at about $32,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Atlassian in the 4th quarter worth approximately $32,000. Finally, Bogart Wealth LLC grew its holdings in shares of Atlassian by 76.4% during the 4th 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. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive owned 227,691 shares in the company, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 20,041 shares of company stock worth $1,801,069. Company insiders own 36.66% of the company’s stock.

Atlassian Trading Up 2.5%

Shares of Atlassian stock traded up $2.17 on Tuesday, hitting $87.67. 389,382 shares of the company’s stock traded hands, compared to its average volume of 6,629,329. The firm’s 50-day moving average price is $86.71 and its two-hundred day moving average price is $95.95. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $22.25 billion, a PE ratio of -105.62, a price-to-earnings-growth ratio of 4.73 and a beta of 1.11. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59.

Atlassian (NASDAQ:TEAM) last posted its quarterly 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. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company earned $0.97 EPS. The firm’s revenue was up 31.7% on a year-over-year basis. On average, research analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird set a $120.00 target price on Atlassian in a research note on Friday, May 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a report on Monday, April 20th. Zacks Research cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Raymond James Financial set a $130.00 target price on shares of Atlassian in a research report on Friday, May 1st. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Atlassian in a research note on Monday, June 29th. Twenty-one research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.26.

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.