Atlassian Corporation PLC $TEAM Shares Sold by North Dakota State Investment Board

North Dakota State Investment Board reduced its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 37.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,070 shares of the technology company’s stock after selling 3,005 shares during the period. North Dakota State Investment Board’s holdings in Atlassian were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Carmignac Gestion grew its position in Atlassian by 115.8% during the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after buying an additional 1,397,402 shares during the period. First Trust Advisors LP increased its holdings in Atlassian by 48.4% in the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock valued at $160,377,000 after buying an additional 766,922 shares in the last quarter. KBC Group NV raised its position in shares of Atlassian by 1,691.2% in the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after acquiring an additional 1,359,624 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Atlassian by 111.7% in the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock worth $84,105,000 after acquiring an additional 247,540 shares during the period. Finally, Artemis Investment Management LLP raised its position in shares of Atlassian by 53.0% in the third quarter. Artemis Investment Management LLP now owns 461,537 shares of the technology company’s stock worth $82,749,000 after acquiring an additional 159,884 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEAM. Robert W. Baird increased their target price on shares of Atlassian from $200.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, September 28th. Cantor Fitzgerald lifted their price target on Atlassian from $175.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Atlassian in a report on Friday. KeyCorp upped their price target on Atlassian from $185.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research report on Thursday, October 15th. Twenty-three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $215.08.

Insider Buying and Selling

In related news, CRO Brian Duffy sold 7,617 shares of Atlassian stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $163.00, for a total value of $1,241,571.00. Following the sale, the executive directly owned 220,074 shares in the company, valued at approximately $35,872,062. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 22,475 shares of company stock worth $3,822,643 in the last 90 days. Insiders own 37.63% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $191.72 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $48.53 billion, a PE ratio of -1,009.05, a P/E/G ratio of 20.44 and a beta of 1.22. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $229.96. The company has a fifty day moving average of $195.23 and a two-hundred day moving average of $118.22.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.37. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. As a group, research analysts forecast that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

Atlassian Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.