AMF Tjanstepension AB Takes Position in Atlassian Corporation PLC $TEAM

AMF Tjanstepension AB acquired a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 28,799 shares of the technology company’s stock, valued at approximately $4,669,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Atlassian by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock valued at $3,006,281,000 after buying an additional 61,706 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Atlassian by 3.9% during the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock valued at $1,367,132,000 after buying an additional 316,276 shares during the last quarter. DNB Asset Management AS boosted its position in shares of Atlassian by 42.2% during the fourth quarter. DNB Asset Management AS now owns 3,990,216 shares of the technology company’s stock valued at $646,974,000 after buying an additional 1,183,328 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Atlassian by 38.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,950,852 shares of the technology company’s stock valued at $640,628,000 after buying an additional 1,090,787 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Atlassian by 1.9% during the third quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock valued at $617,719,000 after buying an additional 73,014 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. Guggenheim set a $115.00 target price on Atlassian in a research report on Thursday, April 9th. Robert W. Baird set a $120.00 target price on Atlassian in a research report on Friday, May 1st. Oppenheimer raised their target price on Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Mizuho dropped their target price on Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Finally, BTIG Research raised their target price on Atlassian from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Stock Up 2.3%

Shares of TEAM opened at $89.43 on Tuesday. The business’s 50 day moving average is $73.38 and its 200 day moving average is $112.51. The company has a market capitalization of $22.69 billion, a PE ratio of -107.75, a price-to-earnings-growth ratio of 4.96 and a beta of 0.90. 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.

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

Insiders Place Their Bets

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 3,072 shares of Atlassian stock in a transaction that occurred 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 sale, the chief technology officer owned 212,916 shares of the company’s stock, valued at $17,320,716.60. The trade was a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Joseph Leo Binz sold 1,653 shares of Atlassian stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $134,471.55. Following the completion of the sale, the chief financial officer directly owned 208,639 shares in the company, valued at approximately $16,972,782.65. The trade was a 0.79% 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 valued at $489,158 in the last quarter. 36.66% of the stock is currently owned by insiders.

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.