Illinois Municipal Retirement Fund Purchases 13,740 Shares of Atlassian Co. (NASDAQ:TEAM)

Illinois Municipal Retirement Fund raised its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,139 shares of the technology company's stock after buying an additional 13,740 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Atlassian were worth $18,110,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TEAM. Baillie Gifford & Co. increased its holdings in Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company's stock valued at $2,094,980,000 after buying an additional 1,511,318 shares during the period. Morgan Stanley boosted its stake in shares of Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company's stock valued at $361,449,000 after purchasing an additional 1,095,297 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company's stock valued at $2,325,490,000 after purchasing an additional 249,017 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company's stock valued at $86,672,000 after purchasing an additional 159,102 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Atlassian by 45.8% in the 3rd quarter. Invesco Ltd. now owns 476,920 shares of the technology company's stock valued at $96,104,000 after purchasing an additional 149,850 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TEAM. KeyCorp began coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a "sector weight" rating on the stock. Wells Fargo & Company raised their price target on shares of Atlassian from $275.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Truist Financial lifted their target price on shares of Atlassian from $180.00 to $220.00 and gave the stock a "hold" rating in a research report on Tuesday, January 16th. Citigroup cut their target price on shares of Atlassian from $280.00 to $265.00 and set a "buy" rating on the stock in a research report on Friday, April 12th. Finally, The Goldman Sachs Group lifted their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a "neutral" rating in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $224.25.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Friday, January 26th. The shares were sold at an average price of $247.34, for a total value of $2,038,328.94. Following the completion of the sale, the chief executive officer now owns 354,363 shares in the company, valued at approximately $87,648,144.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atlassian news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the transaction, the chief accounting officer now directly owns 47,066 shares of the company's stock, valued at approximately $10,018,939.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the company's stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $247.34, for a total transaction of $2,038,328.94. Following the sale, the chief executive officer now directly owns 354,363 shares in the company, valued at $87,648,144.42. The disclosure for this sale can be found here. Insiders sold 299,690 shares of company stock worth $62,392,994 in the last quarter. 40.48% of the stock is owned by corporate insiders.

Atlassian Trading Up 1.4 %

Shares of NASDAQ TEAM traded up $2.72 during midday trading on Monday, reaching $194.27. The stock had a trading volume of 1,689,130 shares, compared to its average volume of 1,704,024. The firm has a market cap of $50.40 billion, a price-to-earnings ratio of -128.56 and a beta of 0.63. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The company's 50 day moving average price is $201.83 and its 200 day moving average price is $206.76.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, sell-side analysts expect that Atlassian Co. will post -0.4 EPS for the current year.

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.

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