Public Employees Retirement System of Ohio Lowers Position in Atlassian Co. (NASDAQ:TEAM)

Public Employees Retirement System of Ohio lowered its holdings in Atlassian Co. (NASDAQ:TEAM) by 7.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,072 shares of the technology company’s stock after selling 10,885 shares during the period. Public Employees Retirement System of Ohio’s holdings in Atlassian were worth $24,793,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Graypoint LLC raised its holdings in shares of Atlassian by 2.4% during the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after buying an additional 42 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after buying an additional 55 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Atlassian by 5.7% during the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after buying an additional 56 shares in the last quarter. Park National Corp OH raised its holdings in shares of Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after buying an additional 58 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised 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 buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Oppenheimer reduced their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Canaccord Genuity Group reduced their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $228.81.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.51, for a total transaction of $1,512,305.91. Following the sale, the chief executive officer now directly owns 308,763 shares in the company, valued at $56,661,098.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Atlassian news, CAO Gene Liu sold 199 shares of Atlassian stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total transaction of $36,665.75. Following the completion of the transaction, the chief accounting officer now owns 45,666 shares in the company, valued at $8,413,960.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.51, for a total value of $1,512,305.91. Following the transaction, the chief executive officer now owns 308,763 shares of the company’s stock, valued at approximately $56,661,098.13. The disclosure for this sale can be found here. Insiders have sold 267,923 shares of company stock worth $46,388,282 over the last ninety days. 40.48% of the stock is owned by corporate insiders.

Atlassian Trading Up 0.7 %

Shares of TEAM stock traded up $1.29 during trading hours on Monday, reaching $178.61. The company’s stock had a trading volume of 814,679 shares, compared to its average volume of 1,701,856. The stock has a market capitalization of $46.49 billion, a P/E ratio of -281.46 and a beta of 0.74. Atlassian Co. has a one year low of $152.34 and a one year high of $258.69. The firm’s fifty day simple moving average is $170.19 and its 200 day simple moving average is $193.56. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company posted ($0.40) earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. Equities research analysts expect that Atlassian Co. will post -0.22 EPS for the current year.

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.