M&T Bank Corp Lowers Stock Position in Atlassian Corporation PLC $TEAM

M&T Bank Corp reduced its stake in Atlassian Corporation PLC by 32.4% in Q2, selling 10,060 shares. The stock's value was $4,265,000 at the end of the period. Other investors adjusted their holdings, with mixed analyst ratings on Atlassian's stock. Insider sales included shares by Director Scott Farquhar and CEO Michael Cannon-Brookes. Atlassian's stock opened at $156.54, with a 50-day average of $155.35.

M&T Bank Corp lessened its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 32.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,998 shares of the technology company's stock after selling 10,060 shares during the quarter. M&T Bank Corp's holdings in Atlassian were worth $4,265,000 at the end of the most recent reporting period.

Battle of the Big-Upside Tech Names: HUBS vs. NBIS vs. TEAM

A number of other large investors have also modified their holdings of the company. One Wealth Advisors LLC boosted its position in Atlassian by 56.7% during the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company's stock worth $901,000 after acquiring an additional 1,606 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Atlassian by 28.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 102,194 shares of the technology company's stock valued at $20,755,000 after acquiring an additional 22,701 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Atlassian by 3.7% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,299 shares of the technology company's stock worth $52,458,000 after purchasing an additional 9,274 shares in the last quarter. Machina Capital S.A.S. boosted its holdings in shares of Atlassian by 203.0% during the 2nd quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company's stock worth $1,904,000 after purchasing an additional 6,282 shares during the last quarter. Finally, Nicholas Company Inc. grew its position in shares of Atlassian by 10.0% in the second quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company's stock valued at $46,262,000 after purchasing an additional 20,635 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TEAM shares. Barclays reduced their price objective on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Bank of America initiated coverage on Atlassian in a report on Tuesday, September 23rd. They set a "neutral" rating and a $200.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $240.00 price target on shares of Atlassian in a research report on Friday, October 31st. Canaccord Genuity Group restated a "buy" rating and set a $230.00 price objective on shares of Atlassian in a research report on Wednesday, October 22nd. Finally, TD Cowen reduced their target price on shares of Atlassian from $220.00 to $205.00 and set a "hold" rating on the stock in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.00.

ISRG, TEAM, SFM Trade Well Below Highs With 30%+ Upside

Read Our Latest Report on Atlassian

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20. Following the sale, the director owned 145,635 shares in the company, valued at approximately $22,585,075.80. The trade was a 5.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20. Following the transaction, the chief executive officer owned 145,635 shares of the company's stock, valued at $22,585,075.80. This trade represents a 5.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 581,181 shares of company stock valued at $92,344,535 in the last quarter. 36.66% of the stock is owned by insiders.

Atlassian Stock Down 0.1%

Atlassian: Upside Still in Play After Impressive Earnings Spike

Shares of TEAM opened at $156.54 on Friday. The company's 50-day moving average price is $155.35 and its 200 day moving average price is $177.80. Atlassian Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $41.19 billion, a P/E ratio of -220.48, a price-to-earnings-growth ratio of 29.57 and a beta of 0.89.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the business earned $0.77 earnings per share. On average, sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

About Atlassian

(Free Report)

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.

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