Louisiana State Employees Retirement System Invests $758,000 in Atlassian Corporation PLC $TEAM

Louisiana State Employees Retirement System acquired a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the first quarter, Holdings Channel.com reports. The fund acquired 11,100 shares of the technology company’s stock, valued at approximately $758,000.

Other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in Atlassian during the fourth quarter worth $25,000. Board of the Pension Protection Fund acquired a new position in shares of Atlassian during the 4th quarter worth $32,000. Basepoint Wealth LLC bought a new stake in shares of Atlassian during the 4th quarter worth $32,000. Garton & Associates Financial Advisors LLC acquired a new stake in Atlassian in the fourth quarter valued at about $32,000. Finally, Bogart Wealth LLC boosted its stake in Atlassian by 76.4% in the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after buying an additional 94 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Up 2.5%

NASDAQ TEAM traded up $2.17 on Tuesday, hitting $87.67. 389,382 shares of the company were exchanged, compared to its average volume of 6,629,329. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The company has a market cap of $22.25 billion, a PE ratio of -105.62, a PEG ratio of 4.73 and a beta of 1.11. The stock has a fifty day moving average of $86.71 and a 200-day moving average of $95.95.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business’s revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research analyst reports. Mizuho lowered their target price on Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company decreased their price target on shares of Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Raymond James Financial set a $130.00 price objective on shares of Atlassian in a research report on Friday, May 1st. Citizens Jmp reiterated a “market perform” rating on shares of Atlassian in a research note on Wednesday, July 1st. Finally, Robert W. Baird set a $120.00 price objective on Atlassian in a research report on Friday, May 1st. Twenty-one investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.26.

Insider Buying and Selling

In other news, CRO Brian Duffy sold 3,000 shares of the stock in a transaction that occurred on 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 $20,426,159.61. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. This 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 sold 20,041 shares of company stock valued at $1,801,069 in the last three months. Insiders own 36.66% of the company’s stock.

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.