Kintegral Advisory LLC Increases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Kintegral Advisory LLC raised its position in Atlassian Co. (NASDAQ:TEAM) by 545.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,534 shares of the technology company’s stock after buying an additional 5,521 shares during the period. Kintegral Advisory LLC’s holdings in Atlassian were worth $1,156,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Atlassian in the 4th quarter valued at $247,740,000. Price T Rowe Associates Inc. MD raised its position in shares of Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian in the second quarter worth about $91,072,000. Vanguard Group Inc. boosted its position in Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after acquiring an additional 504,181 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Atlassian during the 1st quarter valued at about $55,307,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Trading Down 1.4 %

NASDAQ TEAM opened at $161.94 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $42.11 billion, a price-to-earnings ratio of -257.05 and a beta of 0.74. The firm has a 50 day simple moving average of $166.06 and a 200-day simple moving average of $180.65. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. Equities research analysts anticipate that Atlassian Co. will post -0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TEAM. Barclays lowered their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. BMO Capital Markets dropped their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Truist Financial dropped their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.69.

Insider Buying and Selling at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $162.20, for a total value of $1,289,165.60. Following the completion of the transaction, the chief executive officer now owns 103,324 shares in the company, valued at $16,759,152.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $162.20, for a total value of $1,289,165.60. Following the sale, the chief executive officer now directly owns 103,324 shares in the company, valued at $16,759,152.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. Insiders have sold 248,400 shares of company stock valued at $41,407,949 in the last quarter. Corporate insiders own 40.48% of the company’s stock.

Atlassian Company 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.