1,320 Shares in Atlassian Corporation PLC (NASDAQ:TEAM) Purchased by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. bought a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,320 shares of the technology company's stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEAM. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the fourth quarter worth about $27,000. Clean Yield Group grew its stake in shares of Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares during the last quarter. Colonial Trust Co SC raised its holdings in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Atlassian during the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Atlassian during the fourth quarter worth approximately $39,000. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Performance

Atlassian stock opened at $191.61 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $50.30 billion, a price-to-earnings ratio of -115.43 and a beta of 0.94. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00. The stock has a 50-day simple moving average of $207.96 and a 200 day simple moving average of $233.70.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. Atlassian's revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the topic of several research reports. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Barclays reduced their target price on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Wells Fargo & Company dropped their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group restated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $285.75.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total value of $1,643,646.40. Following the transaction, the director owned 174,856 shares of the company's stock, valued at approximately $36,160,220.80. This trade represents a 4.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $222.47, for a total transaction of $1,768,191.56. Following the sale, the chief executive officer owned 143,064 shares of the company's stock, valued at approximately $31,827,448.08. This represents a 5.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 425,013 shares of company stock worth $88,952,830 in the last ninety days. 38.55% of the stock is currently owned by insiders.

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.

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