Vestcor Inc reduced its holdings in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 57.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,056 shares of the technology company’s stock after selling 8,336 shares during the quarter. Vestcor Inc’s holdings in Atlassian were worth $982,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 12.0% in the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after buying an additional 66 shares during the period. Snowden Capital Advisors LLC increased its stake in Atlassian by 1.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares in the last quarter. Financial Perspectives Inc increased its stake in Atlassian by 11.7% in the 4th quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after purchasing an additional 75 shares in the last quarter. ABN Amro Investment Solutions increased its stake in Atlassian by 3.4% in the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after purchasing an additional 80 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in Atlassian by 20.5% in the 3rd quarter. Clearstead Advisors LLC now owns 488 shares of the technology company’s stock valued at $78,000 after purchasing an additional 83 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Atlassian
In other news, CRO Brian Duffy sold 1,986 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50. Following the sale, the executive owned 236,841 shares in the company, valued at $20,782,797.75. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. This trade represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last 90 days. Insiders own 36.66% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on Atlassian
Atlassian Stock Performance
Atlassian stock opened at $97.89 on Tuesday. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59. The stock has a fifty day moving average of $79.55 and a two-hundred day moving average of $105.82. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of -117.94, a PEG ratio of 5.64 and a beta of 1.07.
Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings data 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 positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue was up 31.7% on a year-over-year basis. On average, analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.
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.
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