Universal Beteiligungs und Servicegesellschaft mbH Purchases New Position in Atlassian Co. (NASDAQ:TEAM)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 103,867 shares of the technology company's stock, valued at approximately $25,279,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Corebridge Financial Inc. lifted its position in Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after acquiring an additional 38 shares in the last quarter. Assetmark Inc. lifted its position in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after acquiring an additional 41 shares in the last quarter. Allworth Financial LP lifted its position in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in shares of Atlassian by 21.6% in the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock valued at $69,000 after acquiring an additional 50 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group lowered their price objective on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Macquarie lowered their price objective on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and lowered their price objective for the company from $320.00 to $255.00 in a research report on Monday, April 14th. The Goldman Sachs Group boosted their price objective on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets reduced their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $285.29.

Insider Activity

In other news, President Anutthara Bharadwaj sold 1,731 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $214.87, for a total transaction of $371,939.97. Following the transaction, the president now owns 190,529 shares of the company's stock, valued at approximately $40,938,966.23. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $259.69, for a total value of $2,064,016.12. Following the transaction, the chief executive officer now directly owns 135,116 shares in the company, valued at approximately $35,088,274.04. This represents a 5.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 310,899 shares of company stock valued at $66,859,457. 38.55% of the stock is currently owned by insiders.

Atlassian Trading Down 1.0%

NASDAQ TEAM traded down $2.00 during trading hours on Monday, hitting $205.63. 2,437,656 shares of the company were exchanged, compared to its average volume of 2,091,790. The stock has a 50-day moving average price of $210.09 and a 200 day moving average price of $245.54. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market cap of $53.98 billion, a PE ratio of -153.45 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. Analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

About Atlassian

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.