Atlassian Corporation PLC $TEAM Stock Holdings Cut by Oberndorf William E

Key Points

• Oberndorf William E reduced its stake in Atlassian Corporation PLC by 6.3%, selling 3,500 shares, while the company's stock still represents approximately 14.3% of their portfolio, valued at $11.1 million.
• Despite recent holdings reductions by institutions like Vanguard Group Inc. and Baillie Gifford & Co., Atlassian remains largely held by institutional investors, who own 94.45% of the stock.
• Atlassian's stock was recently trading at $169.17 and had a negative return on equity of -15.19%, though it exceeded analysts' earnings expectations with a reported $0.98 earnings per share.

Oberndorf William E reduced its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,392 shares of the technology company's stock after selling 3,500 shares during the period. Atlassian makes up approximately 14.3% of Oberndorf William E's portfolio, making the stock its 4th biggest position. Oberndorf William E's holdings in Atlassian were worth $11,118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Atlassian by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock valued at $3,606,198,000 after buying an additional 580,583 shares during the period. Baillie Gifford & Co. boosted its holdings in Atlassian by 7.1% in the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after purchasing an additional 573,696 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Atlassian by 21.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after purchasing an additional 616,071 shares in the last quarter. Voya Investment Management LLC boosted its holdings 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 purchasing an additional 2,160,810 shares in the last quarter. Finally, Durable Capital Partners LP boosted its holdings in Atlassian by 499.7% in 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 in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Up 1.3%

NASDAQ:TEAM opened at $169.17 on Tuesday. The stock's fifty day moving average price is $193.52 and its two-hundred day moving average price is $220.88. Atlassian Corporation PLC has a 52-week low of $152.79 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $44.41 billion, a price-to-earnings ratio of -170.88 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 EPS. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In related news, CTO Rajeev Bashyam Rajan sold 3,517 shares of Atlassian stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $574,783.31. Following the completion of the transaction, the chief technology officer owned 143,898 shares in the company, valued at approximately $23,517,250.14. This trade represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.26, for a total value of $1,251,387.90. Following the transaction, the director owned 245,280 shares of the company's stock, valued at $40,044,412.80. The trade was a 3.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 510,700 shares of company stock worth $100,415,703. 38.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEAM. Oppenheimer reduced their price objective on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, July 21st. Capital One Financial cut Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a research report on Wednesday, July 16th. Barclays lowered their target price on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Finally, UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $256.90.

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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