Nisa Investment Advisors LLC Lowers Stock Holdings in Atlassian Corporation PLC (NASDAQ:TEAM)

Nisa Investment Advisors LLC lowered its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,328 shares of the technology company's stock after selling 12,362 shares during the quarter. Nisa Investment Advisors LLC owned about 0.05% of Atlassian worth $29,142,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new position in Atlassian in the fourth quarter valued at about $687,486,000. Voya Investment Management LLC boosted its stake in Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after acquiring an additional 2,160,810 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. Invesco Ltd. boosted its stake in Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Finally, Durable Capital Partners LP lifted its holdings in Atlassian by 499.7% during the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after purchasing an additional 1,312,820 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $209.19, for a total value of $1,662,642.12. Following the transaction, the chief executive officer owned 158,960 shares in the company, valued at $33,252,842.40. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total value of $1,643,646.40. Following the completion of the sale, the director directly owned 174,856 shares of the company's stock, valued at approximately $36,160,220.80. This represents a 4.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 425,579 shares of company stock worth $89,163,758. Company insiders own 38.55% of the company's stock.

Atlassian Stock Performance

Shares of TEAM stock traded down $20.84 during mid-day trading on Thursday, reaching $200.05. The stock had a trading volume of 3,774,522 shares, compared to its average volume of 2,170,759. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $52.52 billion, a price-to-earnings ratio of -120.51 and a beta of 0.94. The business's fifty day moving average is $208.39 and its 200-day moving average is $234.49.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. Atlassian's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on TEAM shares. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their price objective for the company from $320.00 to $255.00 in a report on Monday, April 14th. Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Piper Sandler restated an "overweight" rating and issued a $300.00 price objective (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research note on Monday. Finally, Jefferies Financial Group cut their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of "Moderate Buy" and an average target price of $282.19.

Atlassian 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.