Atlassian Corporation PLC $TEAM Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 456.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,448 shares of the technology company’s stock after buying an additional 12,671 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Atlassian were worth $2,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TEAM. Robeco Institutional Asset Management B.V. grew its stake in shares of Atlassian by 8.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 66,425 shares of the technology company’s stock worth $11,909,000 after acquiring an additional 4,941 shares in the last quarter. 55 North Private Wealth LLC bought a new position in shares of Atlassian during the third quarter valued at about $284,000. Commonwealth Financial Services LLC purchased a new position in Atlassian during the third quarter worth about $218,000. Abel Hall LLC purchased a new position in Atlassian during the third quarter worth about $208,000. Finally, Kaufman Rossin Wealth LLC purchased a new position in Atlassian during the third quarter worth about $422,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Performance

NASDAQ TEAM opened at $227.61 on Friday. The company has a market capitalization of $57.76 billion, a PE ratio of -1,197.95, a price-to-earnings-growth ratio of 24.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $229.96. The company has a 50-day simple moving average of $191.25 and a 200 day simple moving average of $125.51.

Atlassian (NASDAQ:TEAM) last released its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. On average, research analysts predict that Atlassian Corporation PLC will post 0.69 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on TEAM. Guggenheim increased their price objective on shares of Atlassian from $165.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, October 19th. Raymond James Financial set a $180.00 target price on Atlassian in a research note on Friday, August 7th. Citigroup upped their target price on Atlassian from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank Of Canada increased their price target on Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, October 12th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Atlassian in a report on Monday, June 29th. Twenty-four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.35.

Insider Transactions at Atlassian

In other Atlassian news, CRO Brian Duffy sold 1,851 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $319,204.95. Following the completion of the transaction, the executive directly owned 218,223 shares of the company’s stock, valued at approximately $37,632,556.35. This represents a 0.84% decrease in their ownership of the stock. The sale 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 9,054 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the sale, the chief financial officer directly 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 22,475 shares of company stock worth $3,822,643 in the last quarter. Insiders own 37.63% of the company’s stock.

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.