Atlassian Corporation PLC $TEAM Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 17.1% during the 1st quarter, Holdings Channel reports. The firm owned 678,008 shares of the technology company’s stock after selling 139,426 shares during the quarter. Bank of New York Mellon Corp’s holdings in Atlassian were worth $46,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Atlassian by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock worth $3,006,281,000 after acquiring an additional 61,706 shares during the period. Baillie Gifford & Co. grew its position in shares of Atlassian by 3.9% during the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after acquiring an additional 316,276 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Atlassian by 291.4% during the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after purchasing an additional 5,769,788 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after buying an additional 1,080,561 shares during the period. Finally, Morgan Stanley lifted its stake in Atlassian by 52.4% during the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after purchasing an additional 1,657,309 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the transaction, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,041 shares of company stock valued at $1,801,069 over the last three months. Corporate insiders own 36.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TEAM shares. Bank of America lowered their price target on shares of Atlassian from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Citizens Jmp reissued a “market perform” rating on shares of Atlassian in a report on Wednesday, July 1st. BTIG Research restated a “buy” rating and issued a $130.00 target price on shares of Atlassian in a research note on Friday, July 10th. BMO Capital Markets reduced their target price on Atlassian from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Finally, Guggenheim set a $115.00 price target on shares of Atlassian in a research note on Thursday, April 9th. Twenty-one equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Atlassian Trading Up 8.4%

NASDAQ TEAM opened at $86.88 on Friday. The stock has a 50 day moving average of $89.10 and a 200-day moving average of $89.34. The company has a market cap of $22.05 billion, a PE ratio of -104.67, a PEG ratio of 5.61 and a beta of 1.11. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $206.00.

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

Atlassian 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.