First Trust Advisors LP Grows Holdings in Atlassian Corporation PLC $TEAM

by · The Cerbat Gem

First Trust Advisors LP raised its holdings in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 48.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,349,842 shares of the technology company’s stock after purchasing an additional 766,922 shares during the period. First Trust Advisors LP’s holdings in Atlassian were worth $160,377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TEAM. Parallel Advisors LLC increased its holdings in shares of Atlassian by 43.8% in the 1st quarter. Parallel Advisors LLC now owns 1,799 shares of the technology company’s stock valued at $123,000 after acquiring an additional 548 shares during the last quarter. KBC Group NV grew its holdings in shares of Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after purchasing an additional 1,359,624 shares during the last quarter. SEB Asset Management AB acquired a new stake in shares of Atlassian during the 1st quarter worth approximately $4,406,000. Swiss National Bank raised its position in shares of Atlassian by 8.2% during the 1st quarter. Swiss National Bank now owns 493,267 shares of the technology company’s stock worth $33,665,000 after purchasing an additional 37,500 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Atlassian by 224.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 4,960 shares of the technology company’s stock worth $339,000 after purchasing an additional 3,430 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Down 5.7%

Atlassian stock opened at $85.40 on Thursday. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $206.00. 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 has a market capitalization of $21.67 billion, a PE ratio of -102.89, a price-to-earnings-growth ratio of 5.67 and a beta of 1.11. The firm has a 50 day simple moving average of $89.13 and a 200-day simple moving average of $89.89.

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

Insiders Place Their Bets

In other Atlassian news, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the transaction, the executive directly owned 227,691 shares in the company, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,041 shares of company stock valued at $1,801,069 in the last quarter. 36.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TEAM shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research note on Friday, July 17th. Truist Financial increased their price objective on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 1st. UBS Group cut their price objective on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Barclays boosted their target price on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, TD Cowen raised their price target on shares of Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Twenty-one analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.50.

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Atlassian Profile

(Free Report)

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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