Aberdeen Group plc Boosts Stake in Atlassian Corporation PLC $TEAM

Aberdeen Group plc lifted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 122.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,741 shares of the technology company's stock after acquiring an additional 55,993 shares during the quarter. Aberdeen Group plc's holdings in Atlassian were worth $21,590,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Atlassian by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after acquiring an additional 580,583 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Atlassian by 7.1% during the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after acquiring an additional 573,696 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Atlassian by 21.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after acquiring an additional 616,071 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after acquiring an additional 2,160,810 shares in the last quarter. Finally, Durable Capital Partners LP boosted its stake in shares of Atlassian by 499.7% during the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock worth $383,456,000 after acquiring an additional 1,312,820 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 1.6%

Shares of NASDAQ TEAM opened at $167.00 on Monday. The company has a 50 day simple moving average of $194.44 and a 200-day simple moving average of $221.84. The company has a market capitalization of $43.84 billion, a P/E ratio of -168.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 1 year low of $145.88 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 15.19%. The business's revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 EPS. On average, equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Cantor Fitzgerald reduced their price target on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Barclays reduced their price target on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company reduced their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. UBS Group restated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Finally, Piper Sandler restated an "overweight" rating and set a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $259.76.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $163.26, for a total transaction of $1,251,387.90. Following the completion of the sale, the director owned 245,280 shares in the company, valued at $40,044,412.80. This trade represents a 3.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Gene Liu sold 765 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $125,023.95. Following the transaction, the chief accounting officer directly owned 50,595 shares of the company's stock, valued at $8,268,740.85. The trade was a 1.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 510,700 shares of company stock worth $100,415,703. Insiders own 38.55% of the company's stock.

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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