Kintegral Advisory LLC Sells 2,028 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Kintegral Advisory LLC lowered its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after buying an additional 1,806,042 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Atlassian in the 4th quarter worth $687,486,000. Invesco Ltd. increased its holdings in Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC increased its holdings in Atlassian by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after purchasing an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of 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. Institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

TEAM stock traded up $6.65 during midday trading on Friday, reaching $213.43. 1,566,326 shares of the stock were exchanged, compared to its average volume of 2,154,153. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a fifty day moving average price of $209.58 and a 200 day moving average price of $235.45. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $56.03 billion, a PE ratio of -128.57 and a beta of 0.94.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on TEAM shares. UBS Group reduced their price target on Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Stephens decreased their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. KeyCorp cut their price target on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Finally, Truist Financial dropped their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $282.19.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $225.64, for a total transaction 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. The trade was a 3.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $211.30, for a total value of $1,679,412.40. Following the transaction, the director directly owned 190,752 shares in the company, valued at approximately $40,305,897.60. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 410,815 shares of company stock worth $85,532,872 over the last ninety days. Company insiders own 38.55% of the company's stock.

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.