Atlassian Corporation PLC $TEAM Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 26.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,119 shares of the technology company’s stock after purchasing an additional 4,997 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Atlassian were worth $1,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. OFI Invest Asset Management boosted its stake in Atlassian by 16.3% during the fourth quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company’s stock valued at $41,273,000 after buying an additional 35,682 shares in the last quarter. Baillie Gifford & Co. lifted 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 during the last quarter. Exane Asset Management boosted its position in shares of Atlassian by 419.9% during the 4th quarter. Exane Asset Management now owns 31,363 shares of the technology company’s stock valued at $5,085,000 after purchasing an additional 25,330 shares in the last quarter. Nicholas Company Inc. grew its stake in shares of Atlassian by 8.7% in the 4th quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock worth $49,748,000 after purchasing an additional 24,490 shares during the last quarter. Finally, Fisher Funds Management LTD raised its holdings in shares of Atlassian by 11.1% in the 4th quarter. Fisher Funds Management LTD now owns 334,011 shares of the technology company’s stock worth $54,440,000 after purchasing an additional 33,485 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Up 4.3%

Shares of NASDAQ:TEAM opened at $104.28 on Thursday. 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 cap of $26.46 billion, a PE ratio of -125.64, a price-to-earnings-growth ratio of 7.05 and a beta of 1.11. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $200.39. The firm has a 50 day simple moving average of $89.86 and a 200 day simple moving average of $87.70.

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 firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company posted $0.97 EPS. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, research analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TEAM shares. Zacks Research cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. BMO Capital Markets dropped their price target on Atlassian from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Citigroup cut their price objective on Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Sanford C. Bernstein restated an “outperform” rating on shares of Atlassian in a report on Monday, June 29th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Atlassian in a research report on Wednesday, July 1st. Twenty-one research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $138.50.

Insiders Place Their Bets

In related news, CFO James Chuong sold 8,838 shares of the company’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 $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,041 shares of company stock valued at $1,801,069 in the last 90 days. Corporate insiders own 36.66% of the company’s stock.

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.