Atlassian Corporation PLC $TEAM Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV raised its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 233.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,306 shares of the technology company’s stock after buying an additional 7,914 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Atlassian were worth $1,833,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TEAM. DNB Asset Management AS boosted its stake in Atlassian by 266.6% during the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after purchasing an additional 2,041,210 shares in the last quarter. Vanguard Group Inc. boosted its stake in Atlassian by 6.0% during 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 purchasing an additional 1,049,483 shares in the last quarter. Voyager Global Management LP boosted its stake in Atlassian by 181.8% during the 3rd quarter. Voyager Global Management LP now owns 1,550,000 shares of the technology company’s stock valued at $247,535,000 after purchasing an additional 1,000,000 shares in the last quarter. Swedbank AB boosted its stake in Atlassian by 139.6% during the 3rd quarter. Swedbank AB now owns 1,372,976 shares of the technology company’s stock valued at $219,264,000 after purchasing an additional 800,000 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in Atlassian during the 3rd quarter valued at $106,461,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TEAM shares. Wolfe Research reissued an “outperform” rating and issued a $100.00 price target on shares of Atlassian in a report on Thursday, March 12th. Guggenheim cut their price target on shares of Atlassian from $225.00 to $190.00 and set a “buy” rating for the company in a report on Friday, February 6th. Barclays cut their price target on shares of Atlassian from $215.00 to $165.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, January 21st. Finally, BMO Capital Markets set a $130.00 price target on Atlassian and gave the company an “outperform” rating in a report on Friday, February 6th. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $179.00.

Atlassian Trading Down 4.8%

Shares of TEAM opened at $64.83 on Wednesday. The business’s 50-day moving average price is $81.49 and its 200 day moving average price is $128.31. The stock has a market capitalization of $17.10 billion, a P/E ratio of -90.04 and a beta of 0.99. Atlassian Corporation PLC has a 1-year low of $64.30 and a 1-year high of $242.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62.

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

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $118.19, for a total value of $905,926.35. Following the completion of the transaction, the director owned 367,920 shares of the company’s stock, valued at approximately $43,484,464.80. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $126.11, for a total transaction of $966,633.15. Following the completion of the transaction, the chief executive officer directly owned 352,590 shares of the company’s stock, valued at $44,465,124.90. This represents a 2.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,973 shares of company stock valued at $23,479,713 in the last ninety days. Company insiders own 36.66% of the company’s stock.

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.