OLD National Bancorp IN lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 21.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,163 shares of the technology company’s stock after purchasing an additional 381 shares during the quarter. OLD National Bancorp IN’s holdings in Atlassian were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Atlassian by 29.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock worth $59,233,000 after buying an additional 46,418 shares in the last quarter. Cetera Investment Advisers grew its holdings in Atlassian by 6.0% in the 1st quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock worth $516,000 after buying an additional 100 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Atlassian by 7.9% in the 1st quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock worth $34,075,000 after buying an additional 8,491 shares in the last quarter. Pearl River Capital LLC bought a new position in Atlassian in the 1st quarter worth approximately $1,163,000. Finally, USS Investment Management Ltd bought a new position in Atlassian in the 1st quarter worth approximately $6,015,000. 53.17% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider Gene Liu sold 275 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $146.11, for a total transaction of $40,180.25. Following the completion of the sale, the insider now directly owns 49,629 shares in the company, valued at $7,251,293.19. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Atlassian news, President Anutthara Bharadwaj sold 4,699 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $142.53, for a total transaction of $669,748.47. Following the transaction, the president now directly owns 213,479 shares in the company, valued at $30,427,161.87. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gene Liu sold 275 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $146.11, for a total value of $40,180.25. Following the transaction, the insider now owns 49,629 shares in the company, valued at $7,251,293.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 328,549 shares of company stock worth $51,967,704. Corporate insiders own 43.11% of the company’s stock.
Atlassian Trading Down 0.1 %
Atlassian (NASDAQ:TEAM – Free Report) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.15). Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. The firm had revenue of $915.45 million for the quarter, compared to analysts’ expectations of $898.71 million. As a group, research analysts predict that Atlassian Co. will post -0.8 EPS for the current year.
Analyst Ratings Changes
TEAM has been the subject of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price target on shares of Atlassian in a research note on Monday, April 17th. StockNews.com initiated coverage on Atlassian in a research note on Thursday, May 18th. They set a “hold” rating for the company. Mizuho decreased their price target on Atlassian from $235.00 to $215.00 in a research note on Friday, May 5th. The Goldman Sachs Group lowered Atlassian from a “buy” rating to a “neutral” rating and decreased their price target for the company from $240.00 to $165.00 in a research note on Friday, May 5th. Finally, Piper Sandler increased their price target on Atlassian from $140.00 to $170.00 in a research note on Friday, June 9th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.85.
Atlassian Profile
Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.
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