Geode Capital Management LLC Buys 67,185 Shares of Atlassian Corporation PLC $TEAM

Geode Capital Management LLC lifted its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,465,854 shares of the technology company’s stock after buying an additional 67,185 shares during the period. Geode Capital Management LLC’s holdings in Atlassian were worth $398,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Employees Retirement System of Texas boosted its stake in shares of Atlassian by 34.3% in the fourth quarter. Employees Retirement System of Texas now owns 1,781 shares of the technology company’s stock valued at $289,000 after buying an additional 455 shares during the period. Poinciana Advisors Group LLC bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $480,000. Ceera Investments LLC boosted its stake in shares of Atlassian by 8.7% in the fourth quarter. Ceera Investments LLC now owns 26,887 shares of the technology company’s stock valued at $4,359,000 after buying an additional 2,159 shares during the period. Allstate Corp boosted its stake in shares of Atlassian by 108.1% in the fourth quarter. Allstate Corp now owns 12,854 shares of the technology company’s stock valued at $2,084,000 after buying an additional 6,676 shares during the period. Finally, Nia Impact Advisors LLC boosted its stake in shares of Atlassian by 26.3% in the fourth quarter. Nia Impact Advisors LLC now owns 19,209 shares of the technology company’s stock valued at $3,114,000 after buying an additional 4,004 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group cut their price target on Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. BMO Capital Markets cut their target price on Atlassian from $130.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Sanford C. Bernstein restated an “outperform” rating and set a $295.00 target price on shares of Atlassian in a research note on Friday, May 1st. BNP Paribas Exane assumed coverage on Atlassian in a research note on Monday, March 16th. They set an “outperform” rating and a $95.00 target price for the company. Finally, Robert W. Baird set a $120.00 target price on Atlassian in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.63.

Insider Buying and Selling at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $174,271.50. Following the completion of the sale, the executive owned 236,841 shares of the company’s stock, valued at $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 10,891 shares of company stock valued at $955,683 over the last quarter. Company insiders own 36.66% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $107.61 on Monday. The company has a fifty day moving average of $75.55 and a 200-day moving average of $107.83. The company has a market capitalization of $27.31 billion, a PE ratio of -129.65, a price-to-earnings-growth ratio of 6.10 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 earnings per share. On average, equities analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.