ING Groep NV Has $8.90 Million Position in Atlassian Corporation PLC $TEAM

ING Groep NV reduced its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 45.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,882 shares of the technology company’s stock after selling 46,223 shares during the period. ING Groep NV’s holdings in Atlassian were worth $8,899,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TEAM. Atlantic Union Bankshares Corp boosted its position in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after acquiring an additional 199 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Atlassian during the 4th quarter valued at about $32,000. Basepoint Wealth LLC acquired a new stake in shares of Atlassian during the 4th quarter valued at about $32,000. Bogart Wealth LLC boosted its position in shares of Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after acquiring an additional 94 shares in the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Atlassian during the 4th quarter valued at about $41,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In other Atlassian news, CFO James Chuong sold 8,838 shares of the business’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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the business’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 $174,271.50. Following the completion of the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at approximately $20,782,797.75. This represents a 0.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 10,891 shares of company stock valued at $955,683. Insiders own 36.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEAM shares. Truist Financial lifted 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. Barclays lifted 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. Guggenheim set a $115.00 price target on shares of Atlassian in a report on Thursday, April 9th. Sanford C. Bernstein reissued an “outperform” rating and set a $295.00 price target on shares of Atlassian in a report on Friday, May 1st. Finally, Oppenheimer lifted their price target on shares of Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

Atlassian Stock Performance

Shares of TEAM stock opened at $99.47 on Monday. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $222.59. The company has a market capitalization of $25.24 billion, a P/E ratio of -119.84, a P/E/G ratio of 5.64 and a beta of 1.07. The firm has a 50-day moving average price of $78.95 and a 200 day moving average price of $106.17. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.70 billion. During the same period last year, the firm posted $0.97 EPS. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. Research analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

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.