Atlassian Co. (NASDAQ:TEAM) Shares Bought by Profund Advisors LLC

Profund Advisors LLC raised its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,226 shares of the technology company’s stock after purchasing an additional 864 shares during the quarter. Profund Advisors LLC’s holdings in Atlassian were worth $3,931,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TEAM. First Trust Direct Indexing L.P. increased its position in shares of Atlassian by 1.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares during the period. Park National Corp OH raised its stake in shares of Atlassian by 4.0% in the first quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock worth $292,000 after purchasing an additional 58 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in shares of Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after purchasing an additional 65 shares during the period. Finally, UMB Bank n.a. boosted its position in Atlassian by 6.8% in the first quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock valued at $217,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $163.56, for a total value of $1,299,974.88. Following the completion of the sale, the chief executive officer now owns 55,636 shares in the company, valued at approximately $9,099,824.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the transaction, the president now owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $163.56, for a total transaction of $1,299,974.88. Following the sale, the chief executive officer now owns 55,636 shares of the company’s stock, valued at $9,099,824.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 239,399 shares of company stock worth $40,189,629. 40.48% of the stock is owned by insiders.

Atlassian Trading Down 0.0 %

Shares of Atlassian stock opened at $163.08 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The firm’s 50-day moving average price is $161.99 and its 200 day moving average price is $175.39. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $42.45 billion, a PE ratio of -258.86 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted ($0.21) EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, sell-side analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TEAM. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Oppenheimer cut their price target on Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Scotiabank decreased their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, Wells Fargo & Company lowered their target price on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $217.69.

Atlassian 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.