Atlassian Co. (NASDAQ:TEAM) Stock Holdings Increased by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 19.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,089 shares of the technology company’s stock after purchasing an additional 340 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Atlassian were worth $332,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC grew its holdings in shares of Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after acquiring an additional 520 shares in the last quarter. Impax Asset Management Group plc grew its stake in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after purchasing an additional 3,687 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Atlassian during the 3rd quarter worth about $97,350,000. Finally, National Pension Service lifted its holdings in shares of Atlassian by 8.4% during the 3rd quarter. National Pension Service now owns 296,066 shares of the technology company’s stock valued at $47,018,000 after buying an additional 22,883 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Activity

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $151.62, for a total value of $1,205,075.76. Following the completion of the transaction, the chief executive officer now directly owns 238,440 shares of the company’s stock, valued at $36,152,272.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,395 shares of company stock worth $46,787,439. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley increased their price objective on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial increased their target price on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group upped their price target on Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.16.

Atlassian Price Performance

NASDAQ:TEAM opened at $252.78 on Thursday. The company has a market capitalization of $65.83 billion, a price-to-earnings ratio of -166.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a 50-day moving average of $184.61 and a 200-day moving average of $173.61.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned ($0.07) EPS. Atlassian’s revenue was up 21.5% on a year-over-year basis. As a group, equities research analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Atlassian Company Profile

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.