ProShare Advisors LLC Buys 33,006 Shares of Atlassian Co. (NASDAQ:TEAM)

ProShare Advisors LLC raised its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 22.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 183,288 shares of the technology company's stock after acquiring an additional 33,006 shares during the period. ProShare Advisors LLC owned approximately 0.07% of Atlassian worth $44,609,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian in the 4th quarter valued at about $27,000. Colonial Trust Co SC increased its holdings in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Atlassian in the 4th quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the 4th quarter valued at approximately $39,000. Finally, Avion Wealth boosted its position in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Performance

Shares of TEAM traded down $0.39 during mid-day trading on Wednesday, hitting $214.10. 501,259 shares of the company's stock were exchanged, compared to its average volume of 2,319,520. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $56.20 billion, a P/E ratio of -159.78 and a beta of 1.06. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The business's 50 day moving average is $213.39 and its two-hundred day moving average is $247.54.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the company earned $0.89 EPS. The business's quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of research reports. Barclays reduced their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Truist Financial dropped their price target on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Piper Sandler reissued an "overweight" rating and issued a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. KeyCorp reduced their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

Insider Activity

In related news, CRO Brian Duffy sold 1,959 shares of Atlassian stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $214.87, for a total transaction of $420,930.33. Following the completion of the transaction, the executive now directly owns 75,612 shares of the company's stock, valued at $16,246,750.44. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 7,674 shares of Atlassian stock in a transaction that occurred 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 sale, the president now owns 192,260 shares of the company's stock, valued at approximately $43,356,552.60. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 295,003 shares of company stock worth $66,087,944 over the last three months. Corporate insiders own 38.55% of the company's stock.

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.