Atlassian Corporation PLC $TEAM Shares Purchased by Cerity Partners LLC

Key Points

• Cerity Partners LLC boosted its Atlassian stake by 378.9% in the fourth quarter, ending with 229,977 shares valued at about $37.3 million.
• Atlassian reported strong quarterly results, posting EPS of $1.75 versus the $1.33 estimate and revenue of $1.79 billion, up 31.7% year over year.
• Despite the earnings beat, the stock was down 4.3% and analysts remain mixed, with a Moderate Buy consensus and an average price target of $145.63.

Cerity Partners LLC increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 378.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,977 shares of the technology company's stock after purchasing an additional 181,954 shares during the period. Cerity Partners LLC owned 0.09% of Atlassian worth $37,288,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. DNB Asset Management AS lifted its stake in shares of Atlassian by 266.6% during the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company's stock worth $448,260,000 after purchasing an additional 2,041,210 shares during the period. Norges Bank purchased a new position in shares of Atlassian during the 4th quarter worth $323,526,000. Pictet Asset Management Holding SA increased its stake in Atlassian by 38.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,950,852 shares of the technology company's stock valued at $640,628,000 after purchasing an additional 1,090,787 shares during the last quarter. Vanguard Group Inc. lifted its position in Atlassian by 6.0% during the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company's stock worth $2,951,186,000 after buying an additional 1,049,483 shares during the period. Finally, Voyager Global Management LP boosted its stake in Atlassian by 181.8% in the 3rd quarter. Voyager Global Management LP now owns 1,550,000 shares of the technology company's stock worth $247,535,000 after buying an additional 1,000,000 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock in a transaction on Tuesday, May 19th. The shares were 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 of the company's stock, valued at approximately $20,782,797.75. This represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 13,796 shares of company stock worth $1,236,563 in the last 90 days. Company insiders own 36.66% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets decreased their price target on Atlassian from $130.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Weiss Ratings reissued a "sell (e+)" rating on shares of Atlassian in a research report on Monday, April 20th. Cantor Fitzgerald raised their target price on shares of Atlassian from $98.00 to $107.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Atlassian in a research report on Monday, March 16th. They issued an "outperform" rating and a $95.00 target price on the stock. Finally, Robert W. Baird set a $120.00 target price on shares of Atlassian in a research report on Friday, May 1st. One equities research 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 given a Sell rating to the company's stock. According to data from MarketBeat, Atlassian presently has an average rating of "Moderate Buy" and a consensus target price of $145.63.

Atlassian Trading Down 4.3%

TEAM stock opened at $91.54 on Thursday. The company has a market cap of $23.23 billion, a price-to-earnings ratio of -110.29, a PEG ratio of 5.42 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The business has a fifty day simple moving average of $80.65 and a 200-day simple moving average of $105.09. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.79 billion during 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 business's revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. On average, equities research 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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