Intech Investment Management LLC Has $11.71 Million Position in Atlassian Corporation PLC $TEAM

Intech Investment Management LLC reduced its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 48.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,230 shares of the technology company’s stock after selling 68,754 shares during the period. Intech Investment Management LLC’s holdings in Atlassian were worth $11,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Physician Wealth Advisors Inc. grew 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 valued at $26,000 after acquiring an additional 61 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Atlassian by 12.0% in the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after acquiring an additional 66 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 acquiring an additional 71 shares in the last quarter. Financial Perspectives Inc grew its stake in shares of Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after acquiring an additional 75 shares in the last quarter. Finally, ABN Amro Investment Solutions grew its stake in shares of Atlassian by 3.4% in the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after acquiring an additional 80 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TEAM shares. UBS Group decreased their price target on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. TD Cowen upped their price target 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. Piper Sandler decreased their price target on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Wolfe Research restated an “outperform” rating and issued a $100.00 price target on shares of Atlassian in a research note on Thursday, March 12th. One 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

Atlassian Trading Up 15.3%

TEAM opened at $107.61 on Friday. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The company has a 50-day simple moving average of $75.55 and a 200 day simple moving average of $108.19. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $27.31 billion, a price-to-earnings ratio of -129.65, a P/E/G ratio of 5.29 and a beta of 0.90.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. Atlassian’s revenue was up 31.7% compared to the same quarter last year. Analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Insider Activity

In related news, CRO Brian Duffy sold 1,986 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the sale, the executive owned 236,841 shares of the company’s stock, valued at $20,782,797.75. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at $25,295,868. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $955,683 in the last ninety days. 36.66% of the stock is currently owned by company insiders.

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.