Atlassian Corporation PLC $TEAM Shares Sold by Barclays PLC

Barclays PLC trimmed its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 19.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,211 shares of the technology company’s stock after selling 63,653 shares during the period. Barclays PLC owned 0.10% of Atlassian worth $42,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. lifted its stake in shares of Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Snowden Capital Advisors LLC grew its stake in shares of Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after buying an additional 71 shares in the last quarter. Cetera Investment Advisers grew its stake 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 buying an additional 79 shares in the last quarter. ABN Amro Investment Solutions raised its holdings in shares of Atlassian by 3.4% during the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after buying an additional 80 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC lifted its position in Atlassian by 6.6% during the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 1,307 shares of the technology company’s stock worth $209,000 after acquiring an additional 81 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CRO Brian Duffy sold 1,222 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $99,409.70. Following the sale, the executive owned 124,332 shares in the company, valued at approximately $10,114,408.20. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $94.81, for a total transaction of $726,718.65. Following the transaction, the chief executive officer directly owned 275,940 shares in the company, valued at $26,161,871.40. The trade was a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 359,131 shares of company stock worth $50,672,589. 36.66% of the stock is currently owned by insiders.

Atlassian Stock Performance

Atlassian stock opened at $78.01 on Wednesday. Atlassian Corporation PLC has a 52 week low of $67.85 and a 52 week 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. The stock has a market cap of $20.57 billion, a P/E ratio of -108.35, a price-to-earnings-growth ratio of 324.98 and a beta of 0.94. The stock has a 50 day moving average of $109.29 and a 200-day moving average of $142.72.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TEAM shares. UBS Group reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of Atlassian in a research report on Friday, February 6th. Sanford C. Bernstein upped their target price on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Morgan Stanley lowered their price target on shares of Atlassian from $320.00 to $290.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Cantor Fitzgerald dropped their price target on shares of Atlassian from $240.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $200.00 price objective (down from $280.00) on shares of Atlassian in a report on Friday, February 6th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $189.32.

About Atlassian

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.