Atlassian Corporation PLC $TEAM Stock: Robeco Institutional Asset Management B.V. Grows Holdings

Robeco Institutional Asset Management B.V. lifted its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 8.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 66,425 shares of the technology company’s stock after acquiring an additional 4,941 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Atlassian were worth $11,909,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TEAM. Fortitude Family Office LLC raised its stake in Atlassian by 23.0% in the 3rd quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock worth $52,000 after purchasing an additional 54 shares in the last quarter. Activest Wealth Management grew its position in shares of Atlassian by 372.4% during the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after purchasing an additional 108 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in shares of Atlassian by 3.7% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,228 shares of the technology company’s stock worth $579,000 after purchasing an additional 115 shares in the last quarter. State of Wyoming grew its position in shares of Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after purchasing an additional 178 shares in the last quarter. Finally, CX Institutional increased its holdings in shares of Atlassian by 18.0% during the third quarter. CX Institutional now owns 1,248 shares of the technology company’s stock worth $224,000 after purchasing an additional 190 shares during the period. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEAM. Citigroup lifted their price target on shares of Atlassian from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on Atlassian from $180.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 14th. BMO Capital Markets raised their price target on Atlassian from $95.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Morgan Stanley boosted their price target on Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Truist Financial upped their price objective on shares of Atlassian from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. Twenty-four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $213.35.

Insider Buying and Selling

In related news, CRO Brian Duffy sold 1,851 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $319,204.95. Following the sale, the executive directly owned 218,223 shares of the company’s stock, valued at $37,632,556.35. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $210.00, for a total value of $70,770.00. Following the completion of the sale, the chief accounting officer directly owned 55,531 shares in the company, valued at $11,661,510. This trade represents a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,475 shares of company stock worth $3,822,643 in the last ninety days. 37.63% of the stock is owned by insiders.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $227.61 on Friday. The company’s 50 day simple moving average is $191.25 and its 200 day simple moving average is $125.51. The stock has a market capitalization of $57.76 billion, a price-to-earnings ratio of -1,197.95, a price-to-earnings-growth ratio of 23.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $229.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company posted $0.98 EPS. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, research analysts predict that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year.

Atlassian Company Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.