ProShare Advisors LLC Buys 80,875 Shares of Atlassian Corporation PLC $TEAM

ProShare Advisors LLC increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 44.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,130 shares of the technology company’s stock after acquiring an additional 80,875 shares during the quarter. ProShare Advisors LLC’s holdings in Atlassian were worth $42,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Physician Wealth Advisors Inc. grew its holdings in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after acquiring an additional 199 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in Atlassian in the 4th quarter worth $32,000. Bogart Wealth LLC grew its holdings in Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after acquiring an additional 94 shares during the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in Atlassian in the 4th quarter worth $41,000. 94.45% of the stock is currently owned by institutional investors.

Insider Activity at Atlassian

In related 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 transaction of $249,907.20. Following the sale, the chief technology officer directly owned 212,916 shares in the company, valued at $17,320,716.60. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joseph Leo Binz sold 1,653 shares of Atlassian stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $134,471.55. Following the sale, the chief financial officer owned 208,639 shares in the company, valued at $16,972,782.65. This represents a 0.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,013 shares of company stock worth $489,158 over the last ninety days. 36.66% of the stock is owned by corporate insiders.

Atlassian Trading Down 3.1%

Shares of TEAM opened at $86.62 on Wednesday. The firm’s 50-day moving average price is $73.44 and its 200-day moving average price is $112.00. The firm has a market capitalization of $21.98 billion, a price-to-earnings ratio of -104.36, a PEG ratio of 5.07 and a beta of 0.90. 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 $222.59.

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, 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 analyst estimates of $1.70 billion. During the same period in the previous year, the company posted $0.97 earnings per share. The firm’s revenue was up 31.7% on a year-over-year basis. Sell-side analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. KeyCorp cut their price target on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. BNP Paribas Exane started coverage on Atlassian in a research report on Monday, March 16th. They issued an “outperform” rating and a $95.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research report on Monday, April 20th. Truist Financial lifted their price objective on Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Barclays lifted their price objective on Atlassian from $106.00 to $112.00 and gave the stock an “overweight” 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 assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.63.

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.