Amalgamated Bank Boosts Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Amalgamated Bank grew its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,608 shares of the technology company’s stock after buying an additional 363 shares during the period. Amalgamated Bank’s holdings in Atlassian were worth $1,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TEAM. Dimensional Fund Advisors LP increased its stake in Atlassian by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 142,466 shares of the technology company’s stock worth $33,891,000 after acquiring an additional 2,872 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Atlassian by 30.7% in the fourth quarter. Hsbc Holdings PLC now owns 89,446 shares of the technology company’s stock valued at $21,298,000 after buying an additional 21,012 shares during the period. Stifel Financial Corp grew its stake in Atlassian by 0.5% during the fourth quarter. Stifel Financial Corp now owns 127,149 shares of the technology company’s stock worth $30,244,000 after buying an additional 645 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Atlassian by 8.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 70,748 shares of the technology company’s stock valued at $16,828,000 after acquiring an additional 5,240 shares during the period. Finally, TFO Wealth Partners LLC raised its stake in shares of Atlassian by 143,566.7% in the 4th quarter. TFO Wealth Partners LLC now owns 4,310 shares of the technology company’s stock valued at $1,025,000 after acquiring an additional 4,307 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Down 0.4 %

Shares of NASDAQ:TEAM opened at $161.90 on Thursday. The company’s fifty day moving average is $160.87 and its two-hundred day moving average is $174.53. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The stock has a market capitalization of $42.10 billion, a price-to-earnings ratio of -256.98 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Atlassian’s quarterly revenue was up 20.5% on a year-over-year basis. Equities analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TEAM shares. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Barclays dropped their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Truist Financial decreased their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $230.00 price target on shares of Atlassian in a report on Monday. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.69.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $175.00, for a total value of $133,000.00. Following the sale, the president now directly owns 152,534 shares in the company, valued at $26,693,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $162.27, for a total value of $1,289,721.96. Following the sale, the chief executive officer now owns 39,740 shares in the company, valued at $6,448,609.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $175.00, for a total value of $133,000.00. Following the transaction, the president now owns 152,534 shares of the company’s stock, valued at $26,693,450. The disclosure for this sale can be found here. Insiders sold 232,211 shares of company stock worth $38,945,503 in the last 90 days. 40.48% of the stock is currently owned by company insiders.

About Atlassian

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.