NZS Capital LLC Has $33.73 Million Stock Holdings in Atlassian Corporation PLC $TEAM

NZS Capital LLC boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 5.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,180 shares of the technology company’s stock after purchasing an additional 11,219 shares during the period. NZS Capital LLC owned about 0.08% of Atlassian worth $33,725,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TEAM. DNB Asset Management AS lifted its position in shares of Atlassian by 266.6% in the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after buying an additional 2,041,210 shares during the last quarter. Norges Bank bought a new stake in Atlassian in the 2nd quarter valued at $377,794,000. Artisan Partners Limited Partnership grew its position in Atlassian by 66.3% during the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after buying an additional 1,545,546 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Atlassian by 6.0% in the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after purchasing an additional 1,049,483 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Atlassian by 139.6% during the 3rd quarter. Swedbank AB now owns 1,372,976 shares of the technology company’s stock worth $219,264,000 after acquiring an additional 800,000 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BTIG Research dropped their target price on shares of Atlassian from $220.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Citigroup cut their target price on shares of Atlassian from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. Zacks Research downgraded Atlassian from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Sanford C. Bernstein boosted their price target on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Finally, Canaccord Genuity Group set a $185.00 target price on Atlassian in a research note on Friday, February 6th. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $189.32.

Atlassian Stock Performance

NASDAQ TEAM opened at $78.35 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. Atlassian Corporation PLC has a 1 year low of $67.85 and a 1 year high of $278.11. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of -108.82, a P/E/G ratio of 292.34 and a beta of 0.94. The firm’s 50 day simple moving average is $117.45 and its 200 day simple moving average is $145.78.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. As a group, research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, CFO Joseph Leo Binz sold 1,653 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total transaction of $134,471.55. Following the transaction, the chief financial officer directly owned 208,639 shares in the company, valued at approximately $16,972,782.65. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $94.81, for a total transaction of $726,718.65. Following the transaction, the director owned 275,940 shares in the company, valued at approximately $26,161,871.40. This trade represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 405,121 shares of company stock valued at $58,076,519 in the last 90 days. Company insiders own 36.66% of the company’s stock.

Atlassian Company Profile

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.