Atlassian Corporation PLC (NASDAQ:TEAM) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC lowered its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,134 shares of the technology company's stock after selling 2,028 shares during the quarter. Kintegral Advisory LLC's holdings in Atlassian were worth $877,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in Atlassian by 37.7% during the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after acquiring an additional 101 shares during the last quarter. Amalgamated Bank increased its position in Atlassian by 6.1% during the first quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock valued at $2,411,000 after acquiring an additional 650 shares during the last quarter. LPL Financial LLC grew its holdings in Atlassian by 93.4% during the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after purchasing an additional 24,891 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Atlassian by 42.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock valued at $900,000 after purchasing an additional 1,259 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Atlassian during the first quarter valued at approximately $252,000. Institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TEAM shares. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and cut their price target for the stock from $320.00 to $255.00 in a report on Monday, April 14th. Macquarie cut their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Mizuho lowered their price objective on shares of Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research report on Thursday, June 12th. Four 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $282.19.

Atlassian Stock Up 1.2%

Shares of NASDAQ:TEAM traded up $2.52 during trading on Monday, reaching $216.05. The stock had a trading volume of 2,102,705 shares, compared to its average volume of 2,158,810. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00. The company has a market capitalization of $56.72 billion, a P/E ratio of -130.15 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm's 50-day simple moving average is $209.30 and its 200 day simple moving average is $235.05.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. Atlassian's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. As a group, research analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $206.80, for a total transaction of $1,643,646.40. Following the transaction, the director directly owned 174,856 shares in the company, valued at $36,160,220.80. The trade was a 4.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $225.64, for a total value of $1,793,386.72. Following the completion of the sale, the chief executive officer directly owned 206,648 shares of the company's stock, valued at approximately $46,628,054.72. This represents a 3.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 402,867 shares of company stock worth $84,057,644. 38.55% of the stock is owned by company insiders.

Atlassian 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.