Knights of Columbus Asset Advisors LLC Buys New Stake in Atlassian Corporation PLC $TEAM

Knights of Columbus Asset Advisors LLC bought a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,149 shares of the technology company’s stock, valued at approximately $1,640,000.

A number of other large investors also recently made changes to their positions in TEAM. Arizona State Retirement System increased its position in Atlassian by 6.5% during the 2nd quarter. Arizona State Retirement System now owns 48,629 shares of the technology company’s stock worth $3,783,000 after buying an additional 2,969 shares during the period. Choreo LLC lifted its holdings in shares of Atlassian by 90.5% during the third quarter. Choreo LLC now owns 7,888 shares of the technology company’s stock worth $1,414,000 after buying an additional 3,748 shares in the last quarter. Fluent Financial LLC acquired a new stake in shares of Atlassian during the second quarter worth $2,239,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Atlassian in the second quarter valued at about $11,584,000. Finally, IFP Advisors Inc boosted its position in shares of Atlassian by 76.0% in the second quarter. IFP Advisors Inc now owns 9,428 shares of the technology company’s stock valued at $733,000 after acquiring an additional 4,071 shares during the period. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TEAM. BMO Capital Markets restated an “outperform” rating and issued a $225.00 price target on shares of Atlassian in a research note on Friday, October 30th. Cantor Fitzgerald lifted their price objective on shares of Atlassian from $220.00 to $252.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Mizuho boosted their price objective on shares of Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Finally, Piper Sandler increased their target price on shares of Atlassian from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Twenty-four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.48.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $152.44 on Thursday. The stock has a market capitalization of $38.59 billion, a PE ratio of 423.46, a P/E/G ratio of 15.40 and a beta of 1.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.72 and a quick ratio of 0.78. The business has a fifty day moving average price of $193.74 and a two-hundred day moving average price of $119.94. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $229.96.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. Atlassian had a return on equity of 33.53% and a net margin of 1.28%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. As a group, equities analysts predict that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In related news, CFO James Chuong sold 9,054 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the sale, the chief financial officer owned 279,218 shares of the company’s stock, valued at $48,151,144.10. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the sale, the chief accounting officer owned 56,807 shares in the company, valued at $9,941,225. The trade was a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,738 shares of company stock valued at $3,701,038 over the last quarter. 37.63% of the stock is owned by corporate insiders.

About Atlassian

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams. Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration. Atlassian also offers cloud-based products and tools for distributed teams.