Glynn Capital Management LLC Decreases Stake in Atlassian Corporation PLC $TEAM

Glynn Capital Management LLC lowered its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 25.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 66,849 shares of the technology company’s stock after selling 22,832 shares during the quarter. Atlassian comprises approximately 3.7% of Glynn Capital Management LLC’s holdings, making the stock its 13th largest holding. Glynn Capital Management LLC’s holdings in Atlassian were worth $10,839,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. grew its holdings in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares during the period. GAMMA Investing LLC lifted its position in Atlassian by 12.0% during the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after acquiring an additional 66 shares in the last quarter. Snowden Capital Advisors LLC lifted its position in Atlassian by 1.6% during the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after acquiring an additional 71 shares in the last quarter. Financial Perspectives Inc lifted its position in Atlassian by 11.7% during the 4th quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock worth $116,000 after acquiring an additional 75 shares in the last quarter. Finally, ABN Amro Investment Solutions lifted its position in Atlassian by 3.4% during the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock worth $392,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM opened at $93.29 on Friday. The business’s 50 day moving average is $74.87 and its two-hundred day moving average is $108.19. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of -112.40, a PEG ratio of 5.05 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last announced 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 company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company posted $0.97 EPS. Atlassian’s quarterly revenue was up 31.7% on a year-over-year basis. Analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the topic of several recent research reports. TD Cowen boosted their price target on Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Canaccord Genuity Group reduced their price target on Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Wolfe Research reissued an “outperform” rating and set a $100.00 price target on shares of Atlassian in a research report on Thursday, March 12th. Oppenheimer boosted their price target on Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, BNP Paribas Exane initiated coverage on Atlassian in a research report on Monday, March 16th. They set an “outperform” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

Insider Buying and Selling

In other Atlassian news, CRO Brian Duffy sold 1,986 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 value of $174,271.50. Following the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at $20,782,797.75. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed 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, CFO James Chuong sold 8,838 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% 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. Over the last ninety days, insiders sold 10,891 shares of company stock worth $955,683. 36.66% of the stock is currently owned by corporate insiders.

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.