Atlassian Corporation PLC (NASDAQ:TEAM) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,784 shares of the technology company's stock after purchasing an additional 4,903 shares during the quarter. Victory Capital Management Inc.'s holdings in Atlassian were worth $26,693,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Corebridge Financial Inc. boosted its position in shares of Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after acquiring an additional 35 shares during the period. GeoWealth Management LLC raised its stake in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after purchasing an additional 38 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Atlassian by 21.6% in the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock valued at $69,000 after purchasing an additional 50 shares in the last quarter. Covenant Partners LLC raised its stake in shares of Atlassian by 4.2% in the fourth quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock valued at $323,000 after purchasing an additional 53 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Atlassian by 4.7% in the first quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company's stock valued at $253,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Down 0.3%

Shares of NASDAQ TEAM opened at $194.36 on Tuesday. The company has a 50 day simple moving average of $205.74 and a 200-day simple moving average of $231.41. The company has a market capitalization of $51.02 billion, a P/E ratio of -117.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business's revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 EPS. On average, equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TEAM shares. Raymond James Financial reiterated an "outperform" rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Truist Financial dropped their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Jefferies Financial Group dropped their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and dropped their target price for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Finally, Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $274.05.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $192.82, for a total transaction of $1,477,965.30. Following the transaction, the chief executive officer directly owned 390,915 shares in the company, valued at $75,376,230.30. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $192.82, for a total transaction of $1,477,965.30. Following the transaction, the director owned 390,915 shares in the company, valued at approximately $75,376,230.30. This trade represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 455,107 shares of company stock valued at $94,589,282 in the last quarter. 38.55% of the stock is owned by insiders.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.

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