Baird Financial Group Inc. Has $65.16 Million Stock Position in Atlassian Corporation PLC $TEAM

Baird Financial Group Inc. boosted its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 37.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,838 shares of the technology company’s stock after buying an additional 88,132 shares during the quarter. Baird Financial Group Inc. owned approximately 0.12% of Atlassian worth $65,159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEAM. State of Wyoming boosted its stake in shares of Atlassian by 20.3% during the 1st quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after acquiring an additional 47 shares during the period. EP Wealth Advisors LLC lifted its holdings in Atlassian by 2.8% during the 1st quarter. EP Wealth Advisors LLC now owns 2,641 shares of the technology company’s stock valued at $561,000 after purchasing an additional 71 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Atlassian by 11.5% during the first quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company’s stock worth $156,000 after purchasing an additional 74 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Atlassian by 5.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 1,412 shares of the technology company’s stock valued at $300,000 after purchasing an additional 74 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Atlassian by 0.3% in the second quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company’s stock valued at $5,038,000 after purchasing an additional 79 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $169.32, for a total transaction of $1,297,837.80. Following the sale, the chief executive officer directly owned 53,655 shares of the company’s stock, valued at approximately $9,084,864.60. The trade was a 12.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 9,847 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $152.46, for a total transaction of $1,501,273.62. Following the transaction, the president owned 242,092 shares of the company’s stock, valued at approximately $36,909,346.32. This represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 581,181 shares of company stock valued at $92,344,535. 36.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TEAM shares. Raymond James Financial cut their target price on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Canaccord Genuity Group restated a “buy” rating and set a $230.00 price objective on shares of Atlassian in a research report on Wednesday, October 22nd. UBS Group reduced their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Guggenheim assumed coverage on Atlassian in a research report on Thursday, September 11th. They issued a “buy” rating and a $225.00 target price on the stock. Finally, Wells Fargo & Company initiated coverage on Atlassian in a research note on Tuesday, September 30th. They set an “overweight” rating and a $216.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

Atlassian Trading Down 0.1%

Shares of TEAM opened at $156.54 on Friday. Atlassian Corporation PLC has a 52-week low of $139.70 and a 52-week high of $326.00. The business’s fifty day moving average is $155.35 and its 200-day moving average is $177.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $41.19 billion, a price-to-earnings ratio of -220.48, a PEG ratio of 29.57 and a beta of 0.89.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.Atlassian’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. Equities analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

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.