Russell Investments Group Ltd. Has $46.69 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Russell Investments Group Ltd. raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,612 shares of the technology company’s stock after purchasing an additional 12,084 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Atlassian worth $46,686,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. K.J. Harrison & Partners Inc bought a new position in shares of Atlassian during the 4th quarter valued at $1,308,000. State of New Jersey Common Pension Fund D increased its position in Atlassian by 2.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 89,064 shares of the technology company’s stock worth $21,185,000 after buying an additional 1,846 shares during the last quarter. Lyell Wealth Management LP lifted its position in shares of Atlassian by 6.9% in the fourth quarter. Lyell Wealth Management LP now owns 19,683 shares of the technology company’s stock worth $4,682,000 after buying an additional 1,276 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Atlassian by 3.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,885 shares of the technology company’s stock valued at $448,000 after acquiring an additional 59 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in Atlassian by 11.2% in the 4th quarter. Yousif Capital Management LLC now owns 1,561 shares of the technology company’s stock worth $371,000 after purchasing an additional 157 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Price Performance

Atlassian stock opened at $177.07 on Tuesday. The business has a 50 day simple moving average of $199.36 and a 200 day simple moving average of $206.52. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The company has a market capitalization of $45.93 billion, a PE ratio of -281.06 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.40) EPS. On average, sell-side analysts forecast that Atlassian Co. will post -0.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on TEAM shares. Citigroup dropped their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. TD Cowen cut their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday. Robert W. Baird lowered their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday. Mizuho cut their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Monday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $219.24, for a total value of $1,806,756.84. Following the transaction, the chief executive officer now owns 313,158 shares of the company’s stock, valued at $68,656,759.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at approximately $10,018,939.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $219.24, for a total value of $1,806,756.84. Following the completion of the transaction, the chief executive officer now owns 313,158 shares in the company, valued at $68,656,759.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 300,450 shares of company stock valued at $61,106,939. Corporate insiders own 40.48% of the company’s stock.

Atlassian 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.