Robeco Institutional Asset Management B.V. Buys 4,941 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Robeco Institutional Asset Management increased its Atlassian stake by 8% in the third quarter, purchasing 4,941 shares and bringing its holdings to 66,425 shares valued at approximately $11.9 million. Institutional investors and hedge funds collectively own 94.45% of TEAM.
• Analysts remain broadly bullish, with 24 Buy ratings, four Holds and one Sell. Atlassian has a “Moderate Buy” consensus rating and an average price target of $213.35.
• Atlassian exceeded quarterly expectations, reporting $1.87 in adjusted EPS versus a $1.50 consensus estimate and $1.77 billion in revenue, up 27.6% year over year. Shares opened at $227.61, near the company’s 52-week high of $229.96.

Robeco Institutional Asset Management B.V. boosted its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 8.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,425 shares of the technology company's stock after acquiring an additional 4,941 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Atlassian were worth $11,909,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Activest Wealth Management increased its holdings in Atlassian by 372.4% during the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company's stock worth $25,000 after purchasing an additional 108 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Atlassian by 23.0% in the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company's stock valued at $52,000 after purchasing an additional 54 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Atlassian during the second quarter worth about $27,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Atlassian by 139.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company's stock worth $29,000 after buying an additional 220 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of Atlassian during the first quarter worth about $30,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent research reports. Citizens Jmp reissued a "market perform" rating on shares of Atlassian in a research report on Wednesday, July 1st. BMO Capital Markets upped their target price on shares of Atlassian from $95.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, August 7th. FBN Securities reiterated an "outperform" rating and issued a $170.00 target price on shares of Atlassian in a research note on Monday, August 10th. Truist Financial lifted their price target on Atlassian from $185.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Morgan Stanley boosted their price target on Atlassian from $120.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Atlassian presently has an average rating of "Moderate Buy" and an average target price of $213.35.

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 7,617 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the sale, the executive owned 220,074 shares in the company, valued at $35,872,062. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer owned 279,218 shares of the company's stock, valued at approximately $48,151,144.10. This represents a 3.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,475 shares of company stock valued at $3,822,643 in the last three months. 37.63% of the stock is currently owned by company insiders.

Atlassian Price Performance

Shares of TEAM opened at $227.61 on Friday. The company's 50-day moving average is $191.25 and its 200-day moving average is $125.51. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $57.76 billion, a PE ratio of -1,197.95, a PEG ratio of 23.80 and a beta of 1.22. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $229.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. Atlassian's revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. Equities analysts forecast that Atlassian Corporation PLC will post 0.69 EPS for the current year.

Atlassian Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.

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