VIRGINIA RETIREMENT SYSTEMS ET Al Has $17.19 Million Stake in Atlassian Corporation PLC $TEAM

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 130.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,015 shares of the technology company’s stock after buying an additional 60,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Atlassian were worth $17,189,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TEAM. Physician Wealth Advisors Inc. lifted its position 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 buying an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after buying an additional 199 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $32,000. Bogart Wealth LLC lifted its position in shares of 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 during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Atlassian news, CRO Brian Duffy sold 1,222 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total transaction of $99,409.70. Following the transaction, the executive owned 124,332 shares in the company, valued at $10,114,408.20. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajeev Bashyam Rajan sold 3,072 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $249,907.20. Following the transaction, the chief technology officer owned 212,916 shares in the company, valued at approximately $17,320,716.60. This trade represents a 1.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,013 shares of company stock worth $489,158 in the last 90 days. Company insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $80.62 on Thursday. The stock has a market cap of $20.46 billion, a P/E ratio of -97.13, a PEG ratio of 4.82 and a beta of 0.90. The stock has a 50 day simple moving average of $72.98 and a 200 day simple moving average of $114.15. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $230.63.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results 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. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.97 EPS. Research analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TEAM shares. Wall Street Zen raised Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Wells Fargo & Company cut their price objective on Atlassian from $155.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Zacks Research raised Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group set a $150.00 price target on Atlassian in a report on Friday, February 6th. Finally, Mizuho dropped their price target on Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.63.

About Atlassian

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.