Manning & Napier Advisors LLC Has $63.78 Million Holdings in Atlassian Corporation PLC (NASDAQ:TEAM)

Manning & Napier Advisors LLC grew its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 127.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 300,531 shares of the technology company's stock after acquiring an additional 168,593 shares during the quarter. Manning & Napier Advisors LLC owned 0.11% of Atlassian worth $63,776,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kentucky Retirement Systems acquired a new position in shares of Atlassian during the 1st quarter worth approximately $2,341,000. Praxis Investment Management Inc. boosted its stake in shares of Atlassian by 17.9% in the first quarter. Praxis Investment Management Inc. now owns 5,740 shares of the technology company's stock valued at $1,218,000 after buying an additional 870 shares during the period. Premier Path Wealth Partners LLC grew its position in Atlassian by 6.8% during the first quarter. Premier Path Wealth Partners LLC now owns 1,377 shares of the technology company's stock worth $292,000 after buying an additional 88 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in Atlassian by 6.5% during the 1st quarter. Johnson Investment Counsel Inc. now owns 978 shares of the technology company's stock worth $208,000 after acquiring an additional 60 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new position in Atlassian during the 1st quarter worth $252,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $196.44, for a total transaction of $1,505,712.60. Following the completion of the sale, the director now directly owns 53,655 shares in the company, valued at $10,539,988.20. This represents a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 7,674 shares of Atlassian stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the transaction, the president now directly owns 192,260 shares of the company's stock, valued at $43,356,552.60. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,523 shares of company stock valued at $77,393,768 over the last ninety days. 38.55% of the stock is owned by company insiders.

Atlassian Trading Down 3.4%

NASDAQ TEAM traded down $6.61 on Friday, hitting $189.53. The company's stock had a trading volume of 4,773,271 shares, compared to its average volume of 2,138,657. The company's 50-day moving average is $210.32 and its 200 day moving average is $239.97. The firm has a market cap of $49.75 billion, a PE ratio of -114.17 and a beta of 0.96. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TEAM. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Macquarie decreased their target price 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. Barclays cut their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Stephens reduced their price target on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Four 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, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

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.