2,510 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Federated Hermes Inc.

Federated Hermes Inc. purchased a new stake in shares of Atlassian Co. (NASDAQ:TEAM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,510 shares of the technology company’s stock, valued at approximately $444,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Atlassian in the 2nd quarter worth approximately $91,072,000. Vanguard Group Inc. boosted its stake in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Atlassian during the 1st quarter valued at $55,307,000. Finally, Swedbank AB purchased a new position in Atlassian in the 1st quarter worth $50,923,000. Institutional investors own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, July 19th. The stock was sold at an average price of $175.00, for a total transaction of $133,000.00. Following the completion of the transaction, the president now owns 152,534 shares in the company, valued at $26,693,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total value of $133,000.00. Following the completion of the transaction, the president now directly owns 152,534 shares of the company’s stock, valued at $26,693,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, 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. Insiders have sold a total of 232,211 shares of company stock valued at $39,010,518 in the last ninety days. 40.48% of the stock is currently owned by corporate insiders.

Atlassian Trading Down 0.7 %

TEAM opened at $161.98 on Tuesday. The stock has a market cap of $42.16 billion, a PE ratio of -257.11 and a beta of 0.73. The business has a 50 day moving average of $161.63 and a 200-day moving average of $174.94. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business earned ($0.21) EPS. Atlassian’s quarterly revenue was up 20.5% compared to the same quarter last year. Equities research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TEAM shares. Mizuho decreased their price objective on Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a report on Thursday, July 11th. BMO Capital Markets lowered their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Finally, Barclays cut their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently 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.