PKO Investment Management Joint Stock Co Sells 8,000 Shares of Atlassian Corporation PLC $TEAM

PKO Investment Management Joint Stock Co decreased its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 47.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,000 shares of the technology company’s stock after selling 8,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Atlassian were worth $614,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. NewEdge Advisors LLC grew its stake in Atlassian by 71.6% in the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 2,267 shares during the period. Empowered Funds LLC raised its position in shares of Atlassian by 39.5% during the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after purchasing an additional 1,328 shares during the period. Focus Partners Wealth raised its position in shares of Atlassian by 32.6% during the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock worth $875,000 after purchasing an additional 1,014 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Atlassian by 27.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after purchasing an additional 404 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of research reports. Wolfe Research reissued an “outperform” rating and set a $100.00 target price on shares of Atlassian in a research note on Thursday, March 12th. BTIG Research lifted their price target on shares of Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. TD Cowen upped their price target on shares of Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a report on Friday, May 1st. Citigroup lowered their price objective on shares of Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Zacks Research upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Stock Up 1.7%

NASDAQ:TEAM opened at $81.35 on Wednesday. The stock has a 50-day simple moving average of $84.28 and a 200 day simple moving average of $100.99. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The company has a market cap of $20.64 billion, a PE ratio of -98.01, a PEG ratio of 4.53 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70.

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

Insider Buying and Selling

In other news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 288,272 shares of the company’s stock, valued at $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 on Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the transaction, the executive owned 227,691 shares of the company’s stock, valued at $20,426,159.61. The trade was a 1.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,041 shares of company stock worth $1,801,069 over the last quarter. 36.66% of the stock is 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.