California State Teachers Retirement System Has $17.77 Million Stake in Atlassian Corporation PLC $TEAM

California State Teachers Retirement System cut its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,408 shares of the technology company's stock after selling 5,429 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Atlassian worth $17,767,858 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TEAM. Pictet Asset Management Holding SA lifted its stake in Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company's stock valued at $343,344,000 after purchasing an additional 1,080,561 shares during the last quarter. DNB Asset Management AS boosted its stake in Atlassian by 42.2% during the fourth quarter. DNB Asset Management AS now owns 3,990,216 shares of the technology company's stock valued at $646,974,000 after buying an additional 1,183,328 shares during the last quarter. Carmignac Gestion lifted its holdings in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock valued at $177,707,000 after buying an additional 1,397,402 shares in the last quarter. Geode Capital Management LLC boosted its stake in Atlassian by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 2,465,854 shares of the technology company's stock valued at $398,417,000 after acquiring an additional 67,185 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Atlassian by 48.4% in the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock worth $160,377,000 after buying an additional 766,922 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 7,617 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the sale, the executive owned 220,074 shares of the company's stock, valued at $35,872,062. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total value of $196,875.00. Following the completion of the transaction, the chief accounting officer owned 56,807 shares in the company, valued at $9,941,225. The trade was a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 22,138 shares of company stock valued at $3,751,873. Corporate insiders own 36.66% of the company's stock.

Atlassian Stock Performance

NASDAQ TEAM traded down $1.95 on Tuesday, hitting $190.82. 1,323,164 shares of the company's stock traded hands, compared to its average volume of 6,030,619. The firm's 50-day moving average price is $138.06 and its two-hundred day moving average price is $100.15. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $198.60. The firm has a market capitalization of $48.42 billion, a PE ratio of -1,003.88, a P/E/G ratio of 14.12 and a beta of 1.15. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business earned $0.98 EPS. Atlassian's revenue for the quarter was up 27.6% on a year-over-year basis. As a group, analysts expect that Atlassian Corporation PLC will post 0.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group increased their target price on shares of Atlassian from $95.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Mizuho set a $215.00 price target on shares of Atlassian in a research note on Monday. Barclays lifted their price target on shares of Atlassian from $112.00 to $172.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Guggenheim lifted their target price on Atlassian from $115.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group restated a "buy" rating and set a $200.00 target price on shares of Atlassian in a research note on Friday, August 7th. Twenty-five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $186.41.

Atlassian Company Profile

Atlassian Corporation develops collaboration, productivity and workflow software for software development, information technology, business and other teams. Its products are designed to help organizations plan projects, manage work, share knowledge, improve service delivery and coordinate across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for collaboration and knowledge management, Jira Service Management for IT and business service workflows, Trello for organizing tasks and projects, Bitbucket for source-code management, and Loom for video messaging.

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