Atlassian Corporation PLC $TEAM Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 63.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,370 shares of the technology company's stock after purchasing an additional 85,769 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Atlassian worth $15,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. MV Capital Management Inc. acquired a new position in shares of Atlassian in the fourth quarter worth about $25,000. Basepoint Wealth LLC acquired a new stake in Atlassian during the 4th quarter worth $32,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at about $32,000. Bogart Wealth LLC raised 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 valued at $35,000 after buying an additional 94 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Atlassian in the fourth quarter worth about $41,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Atlassian news, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares in the company, valued at $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Chuong sold 8,838 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 20,041 shares of company stock valued at $1,801,069. 36.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEAM. Canaccord Genuity Group lowered their target price on Atlassian from $185.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Truist Financial lifted their price objective on Atlassian from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. UBS Group lowered their price objective on Atlassian from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Friday, May 1st. Wall Street Zen downgraded Atlassian from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 30th. Finally, Citizens Jmp reiterated a "market perform" rating on shares of Atlassian in a report on Wednesday, July 1st. Twenty-one research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $138.50.

Atlassian Price Performance

NASDAQ:TEAM opened at $90.60 on Wednesday. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $206.00. The stock's fifty day moving average is $89.03 and its two-hundred day moving average is $90.43. The company has a market capitalization of $22.99 billion, a P/E ratio of -109.16, a P/E/G ratio of 5.94 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.42. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The company's revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 EPS. Equities analysts expect 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.

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