Nisa Investment Advisors LLC Buys 12,671 Shares of Atlassian Corporation PLC $TEAM

Nisa Investment Advisors LLC grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 456.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,448 shares of the technology company’s stock after buying an additional 12,671 shares during the period. Nisa Investment Advisors LLC’s holdings in Atlassian were worth $2,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Carmignac Gestion lifted its position in shares of Atlassian by 115.8% in the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after purchasing an additional 1,397,402 shares during the period. KBC Group NV boosted its stake in shares of Atlassian by 1,691.2% in the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after purchasing an additional 1,359,624 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Atlassian by 27.4% during the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock worth $343,344,000 after buying an additional 1,080,561 shares during the period. First Trust Advisors LP increased its position in shares of Atlassian by 48.4% during the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after buying an additional 766,922 shares during the period. Finally, Quantinno Capital Management LP raised its stake in Atlassian by 947.7% during the first quarter. Quantinno Capital Management LP now owns 283,427 shares of the technology company’s stock worth $19,344,000 after buying an additional 256,374 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Activity at Atlassian

In other Atlassian news, CFO James Chuong sold 9,054 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the transaction, the chief financial officer owned 279,218 shares in the company, valued at approximately $48,151,144.10. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $210.00, for a total value of $70,770.00. Following the completion of the sale, the chief accounting officer directly owned 55,531 shares of the company’s stock, valued at $11,661,510. This trade represents a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,475 shares of company stock valued at $3,822,643 in the last three months. Corporate insiders own 37.63% of the company’s stock.

Atlassian Trading Up 2.0%

NASDAQ:TEAM opened at $227.61 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $57.76 billion, a price-to-earnings ratio of -1,197.95, a PEG ratio of 24.27 and a beta of 1.22. The firm has a fifty day simple moving average of $191.25 and a two-hundred day simple moving average of $125.51. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $229.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.37. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Analysts expect that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Atlassian from $175.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, September 21st. Mizuho increased their price target on Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. TD Cowen lifted their price objective on Atlassian from $105.00 to $145.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. Zacks Research lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Barclays upped their target price on Atlassian from $172.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, October 13th. Twenty-four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $213.35.

Atlassian Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.