Victory Capital Management Inc. Has $27.07 Million Position in Atlassian Co. (NASDAQ:TEAM)

Victory Capital Management Inc. lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 10.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,802 shares of the technology company’s stock after selling 12,841 shares during the period. Victory Capital Management Inc.’s holdings in Atlassian were worth $27,069,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TEAM. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Atlassian by 12.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after buying an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Atlassian during the fourth quarter valued at about $202,000. American Century Companies Inc. grew its position in shares of Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Atlassian in the fourth quarter worth about $13,805,000. Finally, Royal Bank of Canada lifted its position in shares of Atlassian by 17.3% during the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after purchasing an additional 56,149 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Up 1.3 %

Shares of TEAM opened at $184.12 on Wednesday. The business’s fifty day moving average price is $196.34 and its two-hundred day moving average price is $205.97. The firm has a market capitalization of $47.93 billion, a price-to-earnings ratio of -292.25 and a beta of 0.67. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted ($0.40) earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. On average, analysts predict that Atlassian Co. will post -0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Oppenheimer dropped their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. The Goldman Sachs Group increased their price target on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. UBS Group decreased their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $223.22.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $218.32, for a total value of $1,799,175.12. Following the completion of the sale, the chief executive officer now directly owns 263,712 shares in the company, valued at $57,573,603.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.00, for a total value of $152,000.00. Following the sale, the president now directly owns 161,850 shares of the company’s stock, valued at approximately $32,370,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $218.32, for a total value of $1,799,175.12. Following the transaction, the chief executive officer now owns 263,712 shares of the company’s stock, valued at approximately $57,573,603.84. The disclosure for this sale can be found here. Insiders sold a total of 308,691 shares of company stock worth $61,400,649 in the last quarter. Corporate insiders own 40.48% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.