Board of the Pension Protection Fund Makes New Investment in Atlassian Corporation PLC (NASDAQ:TEAM)

Board of the Pension Protection Fund bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,600 shares of the technology company's stock, valued at approximately $340,000.

Several other large investors also recently modified their holdings of TEAM. Clean Yield Group grew its position in shares of Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after purchasing an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC lifted its stake in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the fourth quarter worth $39,000. 94.45% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Gene Liu sold 541 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $122,000.91. Following the transaction, the chief accounting officer now owns 51,481 shares of the company's stock, valued at approximately $11,609,480.31. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,731 shares of Atlassian stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $214.87, for a total value of $371,939.97. Following the sale, the president now directly owns 190,529 shares of the company's stock, valued at approximately $40,938,966.23. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 388,669 shares of company stock valued at $80,949,405 over the last ninety days. 38.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TEAM shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $300.00 price objective (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Morgan Stanley cut their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group reduced their price objective on Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Finally, Canaccord Genuity Group reduced their price target on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and an average price target of $282.19.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $198.50 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The business's 50 day moving average price is $209.89 and its two-hundred day moving average price is $238.82. The company has a market cap of $52.11 billion, a PE ratio of -119.58 and a beta of 0.96. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00.

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

About Atlassian

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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