6,544 Shares in Atlassian Corporation PLC $TEAM Purchased by Stance Capital LLC

Stance Capital LLC acquired a new position in Atlassian Corporation PLC (NASDAQ:TEAM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,544 shares of the technology company’s stock, valued at approximately $1,329,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Atlassian during the second quarter worth approximately $377,794,000. Artisan Partners Limited Partnership increased its stake in Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after acquiring an additional 1,545,546 shares during the period. AQR Capital Management LLC raised its holdings in Atlassian by 145.6% in the 1st quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company’s stock valued at $354,858,000 after acquiring an additional 1,016,902 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Atlassian by 2,676.8% during the 2nd quarter. DNB Asset Management AS now owns 765,678 shares of the technology company’s stock valued at $155,502,000 after acquiring an additional 738,104 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Atlassian by 203.3% during the 2nd quarter. Marshall Wace LLP now owns 870,867 shares of the technology company’s stock valued at $176,864,000 after acquiring an additional 583,697 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TEAM. Wells Fargo & Company initiated coverage on Atlassian in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price target for the company. Cowen restated a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Piper Sandler restated an “overweight” rating and set a $300.00 price objective on shares of Atlassian in a research report on Friday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $240.00 target price on shares of Atlassian in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Atlassian Trading Down 0.7%

Shares of TEAM stock opened at $162.04 on Friday. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00. The stock’s fifty day simple moving average is $155.86 and its 200 day simple moving average is $175.53. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $42.63 billion, a P/E ratio of -228.22, a P/E/G ratio of 30.56 and a beta of 0.89.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Friday, September 26th. The shares were sold at an average price of $165.26, for a total transaction of $1,266,717.90. Following the transaction, the chief executive officer owned 15,330 shares in the company, valued at approximately $2,533,435.80. The trade was a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 9,847 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $152.46, for a total transaction of $1,501,273.62. Following the completion of the sale, the president directly owned 242,092 shares in the company, valued at approximately $36,909,346.32. This represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 581,181 shares of company stock worth $91,738,233. 36.66% of the stock is currently owned by company insiders.

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.