Illinois Municipal Retirement Fund Acquires 15,603 Shares of Atlassian Co. (NASDAQ:TEAM)

Illinois Municipal Retirement Fund boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 20.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,874 shares of the technology company’s stock after acquiring an additional 15,603 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Atlassian were worth $16,251,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Advisor OS LLC lifted its position in Atlassian by 3.3% in the 2nd quarter. Advisor OS LLC now owns 6,831 shares of the technology company’s stock valued at $1,208,000 after acquiring an additional 217 shares in the last quarter. Candriam S.C.A. increased its stake in Atlassian by 11.7% in the 2nd quarter. Candriam S.C.A. now owns 9,848 shares of the technology company’s stock valued at $1,742,000 after buying an additional 1,029 shares during the last quarter. Arizona State Retirement System increased its stake in Atlassian by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 45,621 shares of the technology company’s stock valued at $8,069,000 after buying an additional 1,137 shares during the last quarter. Victory Capital Management Inc. increased its stake in Atlassian by 1.3% in the 2nd quarter. Victory Capital Management Inc. now owns 131,837 shares of the technology company’s stock valued at $23,319,000 after buying an additional 1,662 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Atlassian by 21.6% in the 2nd quarter. National Bank of Canada FI now owns 1,156 shares of the technology company’s stock valued at $206,000 after buying an additional 205 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Oppenheimer decreased their price objective on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial decreased their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Morgan Stanley decreased their price target on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, Piper Sandler upgraded shares of 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 note on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $163.54, for a total transaction of $1,299,815.92. Following the completion of the sale, the chief executive officer now directly owns 87,428 shares of the company’s stock, valued at approximately $14,297,975.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $163.54, for a total value of $1,299,815.92. Following the transaction, the chief executive officer now owns 87,428 shares in the company, valued at approximately $14,297,975.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 256,055 shares of company stock valued at $42,720,983. Insiders own 40.48% of the company’s stock.

Atlassian Price Performance

NASDAQ:TEAM traded down $0.59 during trading hours on Friday, hitting $161.31. The stock had a trading volume of 1,947,457 shares, compared to its average volume of 1,767,998. The company has a 50 day simple moving average of $165.86 and a two-hundred day simple moving average of $178.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The firm has a market capitalization of $41.95 billion, a price-to-earnings ratio of -256.05 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm earned ($0.21) EPS. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. Research analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Atlassian Company 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.