Ilmarinen Mutual Pension Insurance Co Increases Holdings in Atlassian Corporation PLC $TEAM

Ilmarinen Mutual Pension Insurance Co lifted its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 164.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,500 shares of the technology company’s stock after purchasing an additional 57,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Atlassian were worth $14,998,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its stake in shares of Atlassian by 60.4% in 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 during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after purchasing an additional 199 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Atlassian in the fourth quarter worth about $32,000. Finally, Bogart Wealth LLC raised its stake in shares of Atlassian by 76.4% in the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after purchasing an additional 94 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CRO Brian Duffy sold 1,986 shares of Atlassian stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $174,271.50. Following the sale, the executive directly owned 236,841 shares of the company’s stock, valued at $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Atlassian stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. This represents 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 sold 10,891 shares of company stock worth $955,683 over the last ninety days. Corporate insiders own 36.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TEAM shares. TD Cowen boosted their target price on shares of Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Canaccord Genuity Group decreased their target price on shares of Atlassian from $185.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Morgan Stanley decreased their target price on shares of Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. BTIG Research boosted their price objective on Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Zacks Research upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $145.63.

Atlassian Stock Up 4.7%

Atlassian stock opened at $93.29 on Friday. The stock has a market capitalization of $23.67 billion, a PE ratio of -112.40, a price-to-earnings-growth ratio of 5.05 and a beta of 0.90. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The business has a 50 day simple moving average of $74.87 and a 200-day simple moving average of $108.19. 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) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business’s revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 earnings per share. On average, analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

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.