Asset Management One Co. Ltd. Buys 3,735 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Asset Management One Co. Ltd. boosted its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,961 shares of the technology company's stock after purchasing an additional 3,735 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Atlassian were worth $15,271,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 7,674 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $1,730,563.74. Following the completion of the sale, the president now directly owns 192,260 shares in the company, valued at $43,356,552.60. This represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Gene Liu sold 541 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $122,000.91. Following the completion of the transaction, the chief accounting officer now directly owns 51,481 shares in the company, valued at approximately $11,609,480.31. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 388,669 shares of company stock worth $80,949,405 in the last three months. Insiders own 38.55% of the company's stock.

Atlassian Stock Up 1.9%

Shares of TEAM stock traded up $3.82 during trading hours on Friday, hitting $202.32. 2,463,283 shares of the company's stock traded hands, compared to its average volume of 2,147,216. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00. The stock has a market cap of $53.11 billion, a price-to-earnings ratio of -121.88 and a beta of 0.96. The stock's fifty day simple moving average is $209.80 and its two-hundred day simple moving average is $238.31. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $0.89 EPS. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Raymond James Financial reaffirmed an "outperform" rating and set a $300.00 price objective (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Stephens reduced their price objective on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Finally, BMO Capital Markets dropped their target price on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

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.