Vanguard Group Inc. Has $3.65 Billion Holdings in Atlassian Co. (NASDAQ:TEAM)

Vanguard Group Inc. grew its position in Atlassian Co. (NASDAQ:TEAM) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,355,652 shares of the technology company’s stock after purchasing an additional 504,181 shares during the period. Vanguard Group Inc. owned about 0.06% of Atlassian worth $3,652,495,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Atlassian by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 33,914 shares of the technology company’s stock worth $6,834,000 after purchasing an additional 595 shares during the period. Aviva PLC grew its position in Atlassian by 0.9% during the third quarter. Aviva PLC now owns 58,178 shares of the technology company’s stock valued at $11,723,000 after acquiring an additional 513 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Atlassian by 33.7% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,091 shares of the technology company’s stock worth $824,000 after purchasing an additional 1,031 shares during the last quarter. Prudential PLC boosted its holdings in Atlassian by 5.4% during the 3rd quarter. Prudential PLC now owns 2,988 shares of the technology company’s stock valued at $602,000 after acquiring an additional 154 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in shares of Atlassian by 2.5% during the third quarter. Rafferty Asset Management LLC now owns 58,919 shares of the technology company’s stock valued at $11,873,000 after purchasing an additional 1,461 shares during the period. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TEAM. Piper Sandler decreased their target price on Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 26th. KeyCorp started coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Citigroup dropped their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Oppenheimer cut their target price on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, Canaccord Genuity Group lowered their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $223.22.

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $157.52, for a total value of $1,298,122.32. Following the transaction, the chief executive officer now directly owns 127,461 shares of the company’s stock, valued at approximately $20,077,656.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $157.52, for a total transaction of $1,298,122.32. Following the completion of the transaction, the chief executive officer now directly owns 127,461 shares of the company’s stock, valued at $20,077,656.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.00, for a total value of $152,000.00. Following the transaction, the president now directly owns 161,850 shares of the company’s stock, valued at approximately $32,370,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,852 shares of company stock worth $51,499,843. Corporate insiders own 40.48% of the company’s stock.

Atlassian Stock Down 2.2 %

Shares of NASDAQ:TEAM opened at $156.62 on Tuesday. Atlassian Co. has a 12-month low of $154.02 and a 12-month high of $258.69. The business has a 50-day moving average price of $178.56 and a 200 day moving average price of $203.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned ($0.40) EPS. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, analysts expect that Atlassian Co. will post -0.23 EPS for the current year.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.