Atlassian Corporation PLC (NASDAQ:TEAM) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 267,635 shares of the technology company’s stock after purchasing an additional 978 shares during the quarter. New York State Common Retirement Fund’s holdings in Atlassian were worth $56,795,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Assetmark Inc. raised its stake in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after acquiring an additional 41 shares during the period. Raymond James Financial Inc. acquired a new stake in Atlassian during the fourth quarter worth about $9,429,000. Independent Advisor Alliance raised its stake in Atlassian by 45.8% during the fourth quarter. Independent Advisor Alliance now owns 4,360 shares of the technology company’s stock worth $1,061,000 after acquiring an additional 1,370 shares during the period. Sequoia Financial Advisors LLC raised its stake in Atlassian by 9.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,099 shares of the technology company’s stock worth $511,000 after acquiring an additional 174 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Atlassian by 40.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 789 shares of the technology company’s stock worth $192,000 after purchasing an additional 229 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Trading Down 6.5%

Shares of NASDAQ:TEAM opened at $187.01 on Monday. The stock has a market capitalization of $49.09 billion, a price-to-earnings ratio of -112.66 and a beta of 0.94. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The company has a 50 day moving average price of $207.96 and a 200 day moving average price of $233.70.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue was up 14.1% on a year-over-year basis. On average, research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on TEAM shares. Jefferies Financial Group decreased their target price on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Sunday, June 22nd. KeyCorp decreased their target price on shares of Atlassian from $365.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of Atlassian from $330.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Finally, Morgan Stanley decreased their target price on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $285.75.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $219.98, for a total transaction of $1,686,146.70. Following the transaction, the director owned 444,570 shares in the company, valued at approximately $97,796,508.60. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $219.98, for a total transaction of $1,686,146.70. Following the completion of the transaction, the chief executive officer owned 444,570 shares in the company, valued at $97,796,508.60. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 409,683 shares of company stock valued at $85,999,659. Insiders own 38.55% 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.