ASR Vermogensbeheer N.V. Takes $3.45 Million Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Atlassian Corporation PLC worth approximately $3.45 million, purchasing 16,262 shares during the first quarter of the year.
• Atlassian recently reported a positive earnings result with an EPS of $0.98 for the quarter, surpassing the consensus estimate of $0.83.
• Despite recent gains, Atlassian's stock has declined by 7.8%, with the current trading price at $171.00.

ASR Vermogensbeheer N.V. acquired a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,262 shares of the technology company's stock, valued at approximately $3,451,000.

Several other institutional investors have also bought and sold shares of the stock. Clean Yield Group lifted 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 acquiring an additional 93 shares during the period. Colonial Trust Co SC lifted its position in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. Smithfield Trust Co boosted its stake in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after purchasing an additional 78 shares in the last quarter. GeoWealth Management LLC boosted its stake in Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after purchasing an additional 38 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Atlassian by 82.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Trading Down 7.8%

NASDAQ:TEAM opened at $171.00 on Friday. 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 fifty-two week low of $136.84 and a fifty-two week high of $326.00. The stock's 50-day moving average is $200.16 and its two-hundred day moving average is $226.70. The stock has a market cap of $44.89 billion, a PE ratio of -103.01 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. As a group, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TEAM shares. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and decreased their target price for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Raymond James Financial restated an "outperform" rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Wells Fargo & Company lowered their price objective on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley dropped their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating and set a $300.00 target price (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and an average target price of $274.05.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 143,064 shares in the company, valued at $31,827,448.08. The trade was a 5.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $214.92, for a total value of $1,708,184.16. Following the completion of the sale, the director directly owned 103,324 shares of the company's stock, valued at approximately $22,206,394.08. The trade was a 7.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 522,111 shares of company stock worth $106,345,639. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Company Profile

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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