Atlassian Co. (NASDAQ:TEAM) Holdings Lifted by abrdn plc

abrdn plc grew its position in Atlassian Co. (NASDAQ:TEAM) by 120.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,086 shares of the technology company’s stock after purchasing an additional 30,636 shares during the period. abrdn plc’s holdings in Atlassian were worth $13,341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Vanguard Group Inc. lifted its stake in shares of Atlassian by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock worth $2,992,720,000 after acquiring an additional 112,482 shares during the period. WCM Investment Management LLC lifted its stake in Atlassian by 2.7% during the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Atlassian by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after purchasing an additional 63,903 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Atlassian by 156.8% during the third quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after purchasing an additional 1,095,297 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 0.3 %

Atlassian stock opened at $198.41 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average price is $200.55 and its two-hundred day moving average price is $206.69. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, analysts forecast that Atlassian Co. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on TEAM shares. Citigroup cut their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, April 12th. KeyCorp assumed coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. The Goldman Sachs Group boosted their price target on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Finally, Mizuho cut their price target on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $224.25.

Insider Transactions at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the transaction, the chief executive officer now directly owns 346,122 shares in the company, valued at $87,752,310.66. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the completion of the sale, the chief executive officer now owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the transaction, the chief accounting officer now directly owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. Insiders have sold a total of 300,450 shares of company stock worth $61,721,553 in the last 90 days. 40.48% of the stock is owned by insiders.

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.