Rothschild Wealth LLC purchased a new stake in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,504 shares of the technology company’s stock, valued at approximately $730,000.
Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Atlassian by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock valued at $3,006,281,000 after acquiring an additional 61,706 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Atlassian by 3.9% in the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock valued at $1,367,132,000 after acquiring an additional 316,276 shares in the last quarter. DNB Asset Management AS raised its holdings in Atlassian by 42.2% in the 4th quarter. DNB Asset Management AS now owns 3,990,216 shares of the technology company’s stock valued at $646,974,000 after acquiring an additional 1,183,328 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Atlassian by 38.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,950,852 shares of the technology company’s stock valued at $640,628,000 after acquiring an additional 1,090,787 shares in the last quarter. Finally, State Street Corp raised its holdings in Atlassian by 1.9% in the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock valued at $617,719,000 after acquiring an additional 73,014 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Wolfe Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Atlassian in a research note on Thursday, March 12th. Truist Financial upped their price objective on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays upped their price objective on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. TD Cowen upped their price objective on Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Finally, BTIG Research upped their price objective on Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.
Atlassian Stock Up 7.8%
NASDAQ TEAM opened at $115.95 on Tuesday. The firm has a market cap of $29.42 billion, a PE ratio of -139.70, a price-to-earnings-growth ratio of 6.10 and a beta of 0.90. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59. The stock’s 50 day simple moving average is $76.38 and its 200 day simple moving average is $107.54. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70.
Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CRO Brian Duffy sold 1,986 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the transaction, the executive directly owned 236,841 shares in the company, valued at approximately $20,782,797.75. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 8,838 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 10,891 shares of company stock worth $955,683 over the last quarter. 36.66% of the stock is owned by company insiders.
Atlassian 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.
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