Atlassian Corporation PLC $TEAM Shares Sold by North Dakota State Investment Board

North Dakota State Investment Board cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 37.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,070 shares of the technology company’s stock after selling 3,005 shares during the period. North Dakota State Investment Board’s holdings in Atlassian were worth $909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Carmignac Gestion increased its stake in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after purchasing an additional 1,397,402 shares in the last quarter. KBC Group NV lifted its stake in shares of Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after buying an additional 1,359,624 shares during the period. First Trust Advisors LP lifted its stake in shares of Atlassian by 48.4% during the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after buying an additional 766,922 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Atlassian by 947.7% during the first quarter. Quantinno Capital Management LP now owns 283,427 shares of the technology company’s stock worth $19,344,000 after buying an additional 256,374 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Atlassian by 111.7% during the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock valued at $84,105,000 after buying an additional 247,540 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 6.1%

TEAM stock opened at $191.72 on Friday. The firm’s fifty day simple moving average is $195.23 and its 200-day simple moving average is $118.22. The company has a market capitalization of $48.53 billion, a P/E ratio of -1,009.05, a price-to-earnings-growth ratio of 20.44 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 12 month low of $56.01 and a 12 month high of $229.96.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TEAM. Guggenheim boosted their price objective on shares of Atlassian from $165.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 19th. Raymond James Financial set a $180.00 target price on Atlassian in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Thursday, October 15th. BTIG Research lifted their price target on Atlassian from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Finally, Royal Bank Of Canada boosted their price target on Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, October 12th. Twenty-three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $215.08.

Insiders Place Their Bets

In other Atlassian news, CFO James Chuong sold 9,054 shares of Atlassian stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the transaction, the chief financial officer owned 279,218 shares in the company, valued at approximately $48,151,144.10. This trade represents a 3.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,851 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $319,204.95. Following the completion of the transaction, the executive directly owned 218,223 shares of the company’s stock, valued at approximately $37,632,556.35. This trade represents a 0.84% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 22,475 shares of company stock valued at $3,822,643. Company insiders own 37.63% of the company’s stock.

Atlassian 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.