Atlassian Corporation PLC $TEAM Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 7,744.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,120 shares of the technology company’s stock after buying an additional 13,940 shares during the quarter. Fifth Third Bancorp’s holdings in Atlassian were worth $964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Atlassian by 12.0% during the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after purchasing an additional 66 shares during the last quarter. Snowden Capital Advisors LLC boosted its holdings in Atlassian by 1.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after buying an additional 71 shares during the last quarter. Financial Perspectives Inc boosted its holdings in Atlassian by 11.7% in the 4th quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock worth $116,000 after buying an additional 75 shares during the last quarter. Slow Capital Inc. boosted its holdings in Atlassian by 0.3% in the 4th quarter. Slow Capital Inc. now owns 33,486 shares of the technology company’s stock worth $5,429,000 after buying an additional 84 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in Atlassian by 3.0% during the 4th quarter. Verdence Capital Advisors LLC now owns 3,079 shares of the technology company’s stock worth $499,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TEAM. Piper Sandler reduced their price objective on Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research note on Friday, July 17th. Barclays upped their target price on shares of Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Bank of America reduced their target price on shares of Atlassian from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. Finally, BMO Capital Markets decreased their price target on shares of Atlassian from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Twenty-one analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.50.

Atlassian Price Performance

TEAM stock opened at $86.88 on Monday. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $206.00. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The stock has a market cap of $22.05 billion, a price-to-earnings ratio of -104.67, a price-to-earnings-growth ratio of 6.08 and a beta of 1.11. The business has a fifty day moving average of $89.10 and a two-hundred day moving average of $88.89.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.97 EPS. The company’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, research analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the transaction, the executive owned 227,691 shares in the company, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. This trade represents a 2.97% 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. In the last 90 days, insiders sold 20,041 shares of company stock valued at $1,801,069. Insiders own 36.66% of the company’s stock.

Atlassian Company Profile

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.