Corient Private Wealth LP boosted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 50.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,745 shares of the technology company's stock after buying an additional 8,315 shares during the period. Corient Private Wealth LP's holdings in Atlassian were worth $1,925,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pictet Asset Management Holding SA boosted its holdings in shares of Atlassian by 27.4% in the 1st 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 in the last quarter. Carmignac Gestion grew its position in Atlassian by 115.8% in the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock valued at $177,707,000 after acquiring an additional 1,397,402 shares during the last quarter. Geode Capital Management LLC grew its position 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 during the last quarter. First Trust Advisors LP grew its holdings in shares of Atlassian by 48.4% during the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock valued at $160,377,000 after purchasing an additional 766,922 shares during the last quarter. Finally, Norges Bank acquired a new position in Atlassian during the 4th quarter worth approximately $323,526,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have weighed in on TEAM. Robert W. Baird set a $200.00 target price on shares of Atlassian in a research note on Friday, August 7th. Bank of America boosted their price objective on Atlassian from $175.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Royal Bank Of Canada initiated coverage on Atlassian in a report on Tuesday, August 25th. They issued an "outperform" rating and a $215.00 target price for the company. Zacks Research downgraded Atlassian from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, September 13th. Twenty-five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $189.89.
Get Our Latest Stock Analysis on TEAM
Insider Transactions at Atlassian
In other news, CAO Gene Liu sold 1,125 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total transaction of $196,875.00. Following the transaction, the chief accounting officer owned 56,807 shares of the company's stock, valued at $9,941,225. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Brian Duffy sold 7,617 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the completion of the sale, the executive owned 220,074 shares of the company's stock, valued at approximately $35,872,062. This represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,138 shares of company stock valued at $3,751,873 in the last 90 days. 36.66% of the stock is currently owned by corporate insiders.
Atlassian Stock Performance
TEAM stock opened at $195.08 on Thursday. The firm has a market cap of $49.51 billion, a PE ratio of -1,026.74, a price-to-earnings-growth ratio of 14.82 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. The stock has a 50-day moving average price of $152.33 and a 200-day moving average price of $105.82. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $200.00.
Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The firm's revenue was up 27.6% on a year-over-year basis. As a group, equities research analysts expect that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.
About Atlassian
(
Free Report)
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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