Prudential PLC Buys 1,442 Shares of Atlassian Co. (NASDAQ:TEAM)

Prudential PLC raised its stake in Atlassian Co. (NASDAQ:TEAMFree Report) by 48.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,430 shares of the technology company’s stock after buying an additional 1,442 shares during the quarter. Prudential PLC’s holdings in Atlassian were worth $1,054,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hel Ved Capital Management Ltd purchased a new position in shares of Atlassian in the 4th quarter worth approximately $1,051,000. Vinva Investment Management Ltd grew its holdings in Atlassian by 14.9% in the fourth quarter. Vinva Investment Management Ltd now owns 4,698 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 608 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Atlassian by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 765,314 shares of the technology company’s stock worth $182,038,000 after purchasing an additional 3,899 shares during the last quarter. Northern Trust Corp increased its position in shares of Atlassian by 1.1% during the fourth quarter. Northern Trust Corp now owns 1,417,945 shares of the technology company’s stock worth $337,272,000 after purchasing an additional 15,192 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its holdings in shares of Atlassian by 106.4% during the 4th quarter. Pinebridge Investments L.P. now owns 75,597 shares of the technology company’s stock valued at $17,978,000 after purchasing an additional 38,979 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $162.20, for a total transaction of $1,289,165.60. Following the completion of the transaction, the chief executive officer now owns 103,324 shares of the company’s stock, valued at $16,759,152.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Gene Liu sold 199 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the completion of the sale, the chief accounting officer now owns 45,666 shares of the company’s stock, valued at $8,413,960.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $162.20, for a total transaction of $1,289,165.60. Following the completion of the sale, the chief executive officer now owns 103,324 shares of the company’s stock, valued at $16,759,152.80. The disclosure for this sale can be found here. Insiders sold a total of 291,199 shares of company stock worth $54,230,295 in the last 90 days. Insiders own 40.48% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler decreased their price objective on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Canaccord Genuity Group lowered their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. Finally, Mizuho dropped their price objective on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.22.

View Our Latest Research Report on TEAM

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $162.17 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm’s 50 day simple moving average is $182.16 and its 200-day simple moving average is $204.42. Atlassian Co. has a 12 month low of $154.02 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAMGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned ($0.40) earnings per share. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.23 EPS for the current year.

Atlassian Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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