PKO Investment Management Joint Stock Co Grows Position in Atlassian Corporation PLC $TEAM

PKO Investment Management Joint Stock Co raised its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 41.7% during the third quarter, HoldingsChannel.com reports. The firm owned 17,000 shares of the technology company’s stock after purchasing an additional 5,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Atlassian were worth $2,715,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Atlassian by 2.6% during the second quarter. Vanguard Group Inc. now owns 17,430,078 shares of the technology company’s stock valued at $3,539,875,000 after buying an additional 436,541 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after acquiring an additional 1,545,546 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Atlassian by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,356,798 shares of the technology company’s stock valued at $476,800,000 after acquiring an additional 43,899 shares during the period. AQR Capital Management LLC grew its position in Atlassian by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,933,851 shares of the technology company’s stock valued at $392,282,000 after acquiring an additional 218,564 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Atlassian in the second quarter worth about $377,794,000. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $145.91, for a total value of $1,118,400.15. Following the completion of the transaction, the chief executive officer directly owned 421,575 shares of the company’s stock, valued at approximately $61,512,008.25. This represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Friday, January 9th. The stock was sold at an average price of $145.91, for a total transaction of $1,118,400.15. Following the sale, the director directly owned 421,575 shares in the company, valued at approximately $61,512,008.25. This trade represents a 1.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 566,379 shares of company stock valued at $89,234,447 over the last 90 days. Company insiders own 36.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEAM. UBS Group lowered their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Citigroup reissued a “buy” rating on shares of Atlassian in a report on Wednesday, October 22nd. Cowen restated a “hold” rating on shares of Atlassian in a research note on Monday, October 27th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Atlassian in a research report on Friday, October 31st. Finally, Mizuho lifted their target price on shares of Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.46.

Atlassian Trading Up 0.0%

Atlassian stock opened at $146.44 on Tuesday. The stock has a 50-day moving average price of $156.31 and a 200 day moving average price of $168.73. The company has a market capitalization of $38.53 billion, a price-to-earnings ratio of -206.25, a price-to-earnings-growth ratio of 22.67 and a beta of 0.88. Atlassian Corporation PLC has a 52 week low of $139.70 and a 52 week high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $0.77 EPS. Atlassian’s revenue for the quarter was up 20.6% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current 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.