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David J Yvars Group Takes Position in Atlassian Co. (NASDAQ:TEAM)

Atlassian logo with Computer and Technology background

David J Yvars Group bought a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,942 shares of the technology company's stock, valued at approximately $1,745,000. Atlassian comprises approximately 1.2% of David J Yvars Group's investment portfolio, making the stock its 20th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Prudential PLC raised its holdings in Atlassian by 5.4% in the 3rd quarter. Prudential PLC now owns 2,988 shares of the technology company's stock valued at $602,000 after buying an additional 154 shares during the period. QRG Capital Management Inc. purchased a new stake in Atlassian in the 3rd quarter valued at about $954,000. FMR LLC raised its holdings in Atlassian by 9.5% in the 3rd quarter. FMR LLC now owns 1,638,425 shares of the technology company's stock valued at $330,159,000 after buying an additional 141,960 shares during the period. Invesco Ltd. raised its holdings in 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 buying an additional 149,850 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Atlassian by 1.3% in the 3rd quarter. Hsbc Holdings PLC now owns 68,434 shares of the technology company's stock valued at $13,806,000 after buying an additional 908 shares during the period. Institutional investors and hedge funds own 93.03% of the company's stock.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 760 shares of the business's stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $193.63, for a total transaction of $147,158.80. Following the completion of the transaction, the president now owns 162,610 shares of the company's stock, valued at approximately $31,486,174.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Scott Farquhar sold 8,241 shares of the business's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $194.67, for a total transaction of $1,604,275.47. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 760 shares of the business's stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $193.63, for a total value of $147,158.80. Following the transaction, the president now owns 162,610 shares in the company, valued at $31,486,174.30. The disclosure for this sale can be found here. Insiders sold 272,318 shares of company stock valued at $49,526,292 over the last quarter. Insiders own 40.48% of the company's stock.


Wall Street Analyst Weigh In

A number of brokerages have recently commented on TEAM. Truist Financial lowered their price objective on Atlassian from $220.00 to $200.00 and set a "hold" rating for the company in a research report on Friday, April 26th. StockNews.com raised Atlassian from a "hold" rating to a "buy" rating in a report on Friday, June 7th. Wells Fargo & Company lowered their price target on Atlassian from $285.00 to $250.00 and set an "overweight" rating for the company in a report on Friday. Citigroup lowered their price target on Atlassian from $280.00 to $265.00 and set a "buy" rating for the company in a report on Friday, April 12th. Finally, Canaccord Genuity Group lowered their price target on Atlassian from $260.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $221.28.

Check Out Our Latest Stock Analysis on TEAM

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $4.94 during mid-day trading on Friday, reaching $162.46. The company had a trading volume of 3,450,250 shares, compared to its average volume of 1,819,906. Atlassian Co. has a 1-year low of $152.34 and a 1-year high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The stock has a market cap of $42.29 billion, a PE ratio of -257.87 and a beta of 0.73. The company has a 50-day moving average price of $174.51 and a two-hundred day moving average price of $202.34.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business's revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) earnings per share. On average, equities analysts anticipate that Atlassian Co. will post -0.21 earnings per share for the current year.

About Atlassian

(Free Report)

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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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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