Atlassian Corporation PLC $TEAM Shares Bought by Legal & General Group Plc

Legal & General Group Plc boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,133,333 shares of the technology company’s stock after purchasing an additional 39,243 shares during the period. Legal & General Group Plc’s holdings in Atlassian were worth $183,759,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. raised its position in Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares during the period. GAMMA Investing LLC raised its position in shares of Atlassian by 12.0% in the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after buying an additional 66 shares during the last quarter. Snowden Capital Advisors LLC raised its position in shares of Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after buying an additional 71 shares during the last quarter. Financial Perspectives Inc raised its position in shares of Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after buying an additional 75 shares during the last quarter. Finally, ABN Amro Investment Solutions raised its position in shares of Atlassian by 3.4% in the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after buying an additional 80 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CRO Brian Duffy sold 1,986 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 transaction of $174,271.50. Following the completion of the sale, the executive directly owned 236,841 shares in the company, valued at approximately $20,782,797.75. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 10,891 shares of company stock valued at $955,683. 36.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Atlassian from $155.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Truist Financial increased their target price on shares of Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Guggenheim set a $115.00 target price on shares of Atlassian in a research report on Thursday, April 9th. Barclays increased their target price on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets reduced their target price on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Price Performance

Atlassian stock opened at $89.07 on Thursday. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $222.59. The stock has a market cap of $22.60 billion, a P/E ratio of -107.31, a PEG ratio of 4.81 and a beta of 0.90. The company has a 50-day moving average price of $74.50 and a 200 day moving average price of $108.65. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business earned $0.97 earnings per share. Atlassian’s revenue was up 31.7% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Atlassian 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.