Perpetual Ltd Has $2.85 Million Position in Atlassian Corporation PLC $TEAM

Perpetual Ltd raised its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 202.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,553 shares of the technology company’s stock after purchasing an additional 11,742 shares during the period. Perpetual Ltd’s holdings in Atlassian were worth $2,846,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Atlassian by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after buying an additional 1,049,483 shares during the period. State Street Corp raised its stake in Atlassian by 1.9% during the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock worth $617,719,000 after buying an additional 73,014 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Atlassian by 18.7% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company’s stock worth $458,001,000 after buying an additional 451,706 shares during the period. DNB Asset Management AS lifted its holdings in Atlassian by 266.6% during the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after acquiring an additional 2,041,210 shares in the last quarter. Finally, Sands Capital Management LLC grew its stake in Atlassian by 2.0% in the third quarter. Sands Capital Management LLC now owns 2,641,730 shares of the technology company’s stock valued at $421,884,000 after acquiring an additional 53,007 shares during the period. 94.45% of the stock is owned by institutional investors.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $120.82, for a total value of $926,085.30. Following the sale, the director directly owned 383,250 shares in the company, valued at $46,304,265. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $133.66, for a total transaction of $1,024,503.90. Following the completion of the sale, the chief executive officer directly owned 390,915 shares in the company, valued at approximately $52,249,698.90. This represents a 1.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 220,633 shares of company stock valued at $28,313,415 over the last ninety days. Company insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $68.29 on Friday. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of -94.85 and a beta of 0.99. The stock’s 50-day moving average is $84.28 and its 200-day moving average is $130.06. Atlassian Corporation PLC has a one year low of $64.30 and a one year high of $242.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Friday, February 6th. The technology company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the company earned $0.96 earnings per share. Atlassian’s quarterly revenue was up 23.3% on a year-over-year basis. Equities analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating and issued a $105.00 price target on shares of Atlassian in a report on Friday, February 6th. Oppenheimer decreased their price objective on Atlassian from $275.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Guggenheim lowered their target price on Atlassian from $225.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Wolfe Research restated an “outperform” rating and set a $100.00 target price on shares of Atlassian in a report on Thursday, March 12th. Finally, KeyCorp cut their price target on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.00.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.