National Pension Service Has $45.52 Million Holdings in Atlassian Corporation PLC $TEAM

Key Points

• National Pension Service boosted its Atlassian stake by 15.5% in the fourth quarter, ending with 280,720 shares valued at about $45.5 million.
• Several other institutional investors also increased their positions, and 94.45% of Atlassian’s stock is owned by institutions and hedge funds.
• Atlassian reported stronger-than-expected quarterly results, with EPS of $1.75 and revenue of $1.79 billion, while analysts currently rate the stock Moderate Buy with an average target price of $145.63.

National Pension Service increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,720 shares of the technology company's stock after purchasing an additional 37,607 shares during the period. National Pension Service owned approximately 0.11% of Atlassian worth $45,516,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Atlassian by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company's stock worth $3,006,281,000 after acquiring an additional 61,706 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Atlassian by 3.9% during the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company's stock worth $1,367,132,000 after acquiring an additional 316,276 shares in the last quarter. DNB Asset Management AS lifted its holdings 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 worth $646,974,000 after acquiring an additional 1,183,328 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Atlassian by 38.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,950,852 shares of the technology company's stock valued at $640,628,000 after purchasing an additional 1,090,787 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Atlassian by 1.9% in the third quarter. State Street Corp now owns 3,867,995 shares of the technology company's stock valued at $617,719,000 after purchasing an additional 73,014 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Atlassian news, CRO Brian Duffy sold 1,986 shares of the firm's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $174,271.50. Following the sale, the executive owned 236,841 shares of the company's stock, valued at approximately $20,782,797.75. This trade represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 8,838 shares of the firm's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 10,891 shares of company stock worth $955,683. Company insiders own 36.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley cut their price target on Atlassian from $290.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, April 16th. Barclays boosted their price target on Atlassian from $106.00 to $112.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. KeyCorp cut their price target on Atlassian from $170.00 to $130.00 and set an "overweight" rating on the stock in a report on Wednesday, April 1st. Truist Financial boosted their price target on Atlassian from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, TD Cowen lifted their target price on Atlassian from $85.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $145.63.

Atlassian Price Performance

Atlassian stock opened at $107.61 on Monday. The firm has a market cap of $27.31 billion, a PE ratio of -129.65, a price-to-earnings-growth ratio of 6.10 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The stock's fifty day moving average price is $75.55 and its two-hundred day moving average price is $107.83. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.Atlassian's quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. As a group, research analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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