QRG Capital Management Inc. grew its holdings in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 17.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,924 shares of the technology company’s stock after buying an additional 1,320 shares during the period. QRG Capital Management Inc.’s holdings in Atlassian were worth $1,894,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Atlassian in the 4th quarter valued at approximately $687,486,000. Invesco Ltd. boosted its holdings in shares of Atlassian by 265.9% in the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the period. Geode Capital Management LLC increased its position in shares of Atlassian by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock valued at $528,851,000 after purchasing an additional 27,899 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after buying an additional 2,160,810 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.
Atlassian Price Performance
Shares of TEAM opened at $196.14 on Friday. The stock has a market capitalization of $51.49 billion, a PE ratio of -118.16 and a beta of 0.96. The company has a 50 day moving average price of $210.54 and a 200-day moving average price of $241.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.
Insider Activity at Atlassian
In other Atlassian news, CAO Gene Liu sold 121 shares of Atlassian stock in a transaction on Monday, May 19th. The shares were sold at an average price of $214.88, for a total value of $26,000.48. Following the transaction, the chief accounting officer now directly owns 51,360 shares of the company’s stock, valued at approximately $11,036,236.80. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 7,674 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $1,730,563.74. Following the sale, the president now owns 192,260 shares of the company’s stock, valued at approximately $43,356,552.60. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,523 shares of company stock valued at $77,393,768 over the last quarter. 38.55% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
TEAM has been the subject of several recent analyst reports. Mizuho dropped their price objective on shares of Atlassian from $325.00 to $290.00 and set an “outperform” rating for the company in a research note on Thursday, June 12th. Jefferies Financial Group cut their price target on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a report on Monday, April 7th. BMO Capital Markets reduced their price objective on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Baird R W upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Finally, KeyCorp cut their target price on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $282.19.
View Our Latest Stock Analysis on TEAM
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.
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