National Pension Service Trims Stock Holdings in Atlassian Corporation PLC $TEAM

National Pension Service lowered its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 83.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 49,650 shares of the technology company’s stock after selling 243,031 shares during the quarter. National Pension Service’s holdings in Atlassian were worth $3,862,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TEAM. Snowden Capital Advisors LLC increased its holdings in shares of Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of Atlassian by 6.7% during the fourth quarter. New York Life Investment Management LLC now owns 2,199 shares of the technology company’s stock worth $357,000 after purchasing an additional 139 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Atlassian by 5.6% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 2,696 shares of the technology company’s stock worth $437,000 after purchasing an additional 143 shares during the period. Lido Advisors LLC boosted its position in Atlassian by 5.1% in the fourth quarter. Lido Advisors LLC now owns 3,070 shares of the technology company’s stock valued at $492,000 after buying an additional 149 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in Atlassian by 10.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,588 shares of the technology company’s stock valued at $257,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

NASDAQ:TEAM opened at $179.70 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $198.60. The stock’s 50-day moving average price is $135.92 and its 200-day moving average price is $99.29. The stock has a market capitalization of $45.60 billion, a PE ratio of -945.79, a price-to-earnings-growth ratio of 14.12 and a beta of 1.15.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.Atlassian’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. As a group, equities analysts expect that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TEAM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a report on Friday, July 17th. Truist Financial lifted their price objective on shares of Atlassian from $160.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. FBN Securities reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Atlassian in a report on Monday, August 10th. Wells Fargo & Company increased their price objective on shares of Atlassian from $140.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada assumed coverage on shares of Atlassian in a report on Tuesday, August 25th. They set an “outperform” rating and a $215.00 target price for the company. Twenty-five research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.81.

Insider Activity

In other news, CFO James Chuong sold 9,054 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the transaction, the chief financial officer owned 279,218 shares in the company, valued at $48,151,144.10. This trade represents a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 939 shares of Atlassian stock in a transaction on Friday, August 28th. The shares were sold at an average price of $190.00, for a total transaction of $178,410.00. Following the completion of the sale, the chief accounting officer directly owned 55,868 shares in the company, valued at $10,614,920. This represents a 1.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,138 shares of company stock worth $3,751,873 over the last three months. 36.66% of the stock is currently owned by corporate insiders.

Atlassian Profile

Atlassian Corporation develops collaboration, productivity and workflow software for software development, information technology, business and other teams. Its products are designed to help organizations plan projects, manage work, share knowledge, improve service delivery and coordinate across departments.

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