VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 148,912 Atlassian Corporation PLC $TEAM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 148,912 shares of the technology company’s stock, valued at approximately $11,584,000.

A number of other institutional investors also recently bought and sold shares of TEAM. California State Teachers Retirement System raised its holdings in shares of Atlassian by 7,498.4% during the second quarter. California State Teachers Retirement System now owns 17,767,858 shares of the technology company’s stock worth $1,382,162,000 after purchasing an additional 17,534,021 shares during the last quarter. AQR Capital Management LLC raised its holdings in Atlassian by 291.4% in the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after purchasing an additional 5,769,788 shares during the period. Norges Bank acquired a new position in shares of Atlassian during the 4th quarter worth approximately $323,526,000. Morgan Stanley raised its position in Atlassian by 52.4% during the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after acquiring an additional 1,657,309 shares during the period. Finally, Carmignac Gestion raised its position in shares of Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after purchasing an additional 1,397,402 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

TEAM stock opened at $189.58 on Tuesday. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $198.60. The firm has a market cap of $48.11 billion, a PE ratio of -997.79, a PEG ratio of 14.90 and a beta of 1.15. The firm’s 50 day moving average price is $128.22 and its 200-day moving average price is $96.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEAM. Wall Street Zen lowered Atlassian from a “buy” rating to a “hold” rating in a report on Saturday. Guggenheim upped their price target on Atlassian from $115.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 7th. BTIG Research increased their price target on Atlassian from $180.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Robert W. Baird set a $200.00 price objective on Atlassian in a research report on Friday, August 7th. Finally, BMO Capital Markets boosted their price objective on Atlassian from $95.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Twenty-five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.81.

Insider Transactions at Atlassian

In other Atlassian news, CFO James Chuong sold 9,054 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the transaction, the chief financial officer owned 279,218 shares of the company’s stock, valued at $48,151,144.10. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 7,617 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the transaction, the executive directly owned 220,074 shares of the company’s stock, valued at approximately $35,872,062. This trade represents a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 28,383 shares of company stock worth $4,316,379. 36.66% of the stock is currently owned by company insiders.

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.