Thrivent Financial for Lutherans Takes $677,000 Position in Atlassian Co. (NASDAQ:TEAM)

Thrivent Financial for Lutherans acquired a new stake in Atlassian Co. (NASDAQ:TEAM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,830 shares of the technology company’s stock, valued at approximately $677,000.

Other institutional investors have also modified their holdings of the company. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Hollencrest Capital Management lifted its stake in shares of Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian during the 2nd quarter worth approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Atlassian during the 1st quarter worth approximately $40,000. 93.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on TEAM. Barclays reduced their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. BMO Capital Markets reduced their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Raymond James upgraded Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Tuesday, October 1st. Finally, Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $216.65.

Atlassian Price Performance

TEAM stock opened at $167.53 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The business has a 50 day simple moving average of $158.86 and a 200-day simple moving average of $172.09. The firm has a market capitalization of $43.61 billion, a PE ratio of -265.92 and a beta of 0.73. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS 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 firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the firm posted ($0.21) earnings per share. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. Equities research analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $160.14, for a total transaction of $1,272,792.72. Following the transaction, the director now directly owns 484,828 shares in the company, valued at $77,640,355.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $160.14, for a total transaction of $1,272,792.72. Following the transaction, the director now directly owns 484,828 shares in the company, valued at $77,640,355.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on 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 sale, the president now owns 152,534 shares in the company, valued at approximately $26,693,450. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,263 shares of company stock worth $36,865,273 over the last ninety days. Corporate insiders own 40.48% of the company’s stock.

About Atlassian

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.