Lazard Asset Management LLC Has $4.07 Million Holdings in Atlassian Corporation PLC $TEAM

Lazard Asset Management LLC decreased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 57.2% in the 1st quarter, Holdings Channel reports. The fund owned 59,666 shares of the technology company’s stock after selling 79,820 shares during the quarter. Lazard Asset Management LLC’s holdings in Atlassian were worth $4,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TEAM. MV Capital Management Inc. bought a new stake in Atlassian in the 4th quarter valued at $25,000. State of Wyoming boosted its stake in Atlassian by 65.7% in the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after purchasing an additional 178 shares during the period. Basepoint Wealth LLC bought a new position in Atlassian during the 4th quarter worth about $32,000. Garton & Associates Financial Advisors LLC bought a new position in Atlassian during the 4th quarter worth about $32,000. Finally, Bogart Wealth LLC raised its stake in shares of Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after purchasing an additional 94 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America cut their price target on Atlassian from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. KeyCorp dropped their target price on Atlassian from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Raymond James Financial restated an “outperform” rating on shares of Atlassian in a research note on Tuesday, July 21st. Truist Financial boosted their target price on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Atlassian in a research note on Monday, June 29th. Twenty-one investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.50.

Insider Buying and Selling

In other news, CFO James Chuong sold 8,838 shares of the company’s stock in a transaction that occurred 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 owned 288,272 shares in the company, valued at $25,295,868. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 that occurred 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 completion of the sale, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 20,041 shares of company stock valued at $1,801,069. Corporate insiders own 36.66% of the company’s stock.

Atlassian Trading Up 2.9%

Atlassian stock opened at $101.01 on Friday. The company has a market cap of $25.63 billion, a price-to-earnings ratio of -121.70, a P/E/G ratio of 6.96 and a beta of 1.11. The firm has a 50-day moving average of $90.49 and a 200-day moving average of $87.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $199.09.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. Atlassian’s quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share 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.