Oak Thistle LLC Raises Position in Atlassian Corporation PLC $TEAM

Oak Thistle LLC raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 118.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,457 shares of the technology company’s stock after acquiring an additional 7,305 shares during the period. Oak Thistle LLC’s holdings in Atlassian were worth $2,149,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TEAM. Vanguard Group Inc. boosted its position in shares of Atlassian by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 17,430,078 shares of the technology company’s stock valued at $3,539,875,000 after acquiring an additional 436,541 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Atlassian by 66.3% in the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after purchasing an additional 1,545,546 shares during the last quarter. Voya Investment Management LLC raised its stake in Atlassian by 24.1% in the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company’s stock valued at $571,894,000 after purchasing an additional 523,035 shares in the last quarter. Geode Capital Management LLC lifted its position in Atlassian by 1.9% during the second quarter. Geode Capital Management LLC now owns 2,356,798 shares of the technology company’s stock valued at $476,800,000 after purchasing an additional 43,899 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in Atlassian by 6.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,972,130 shares of the technology company’s stock worth $418,506,000 after buying an additional 124,432 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Up 0.2%

Shares of NASDAQ:TEAM opened at $159.56 on Wednesday. The stock has a market capitalization of $41.98 billion, a P/E ratio of -224.73, a price-to-earnings-growth ratio of 30.02 and a beta of 0.89. The stock’s 50-day moving average price is $156.23 and its 200-day moving average price is $174.62. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business posted $0.77 EPS. Atlassian’s quarterly revenue was up 20.6% compared to the same quarter last year. On average, equities analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TEAM. Sanford C. Bernstein raised their price objective on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Truist Financial set a $210.00 target price on Atlassian in a research note on Friday, October 31st. Mizuho lifted their price target on Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, UBS Group decreased their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.23.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Monday, December 15th. The shares were sold at an average price of $158.92, for a total value of $1,218,121.80. Following the transaction, the chief executive officer directly owned 84,315 shares of the company’s stock, valued at $13,399,339.80. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $158.92, for a total transaction of $1,218,121.80. Following the sale, the director owned 84,315 shares of the company’s stock, valued at $13,399,339.80. This represents a 8.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 581,709 shares of company stock valued at $91,408,701. 36.66% of the stock is currently owned by company insiders.

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.