Atlassian Corporation PLC (NASDAQ:TEAM) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 670,968 shares of the technology company's stock after acquiring an additional 49,171 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.26% of Atlassian worth $142,386,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TEAM. Vanguard Group Inc. boosted its position 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 valued at $3,606,198,000 after acquiring an additional 580,583 shares during the last quarter. Baillie Gifford & Co. increased its position in Atlassian by 7.1% during the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after purchasing an additional 573,696 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Atlassian by 21.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after purchasing an additional 616,071 shares during the period. Voya Investment Management LLC boosted its holdings in Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the last quarter. Finally, Durable Capital Partners LP boosted its holdings in Atlassian by 499.7% in the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after purchasing an additional 1,312,820 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group restated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Mizuho set a $235.00 price objective on Atlassian and gave the stock an "outperform" rating in a research report on Friday. Cantor Fitzgerald reduced their target price on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, Morgan Stanley cut their price objective on Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $259.76.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $163.51, for a total value of $1,253,304.15. Following the sale, the chief executive officer owned 268,275 shares of the company's stock, valued at $43,865,645.25. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $163.51, for a total transaction of $1,253,304.15. Following the completion of the transaction, the director owned 268,275 shares of the company's stock, valued at $43,865,645.25. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 544,823 shares of company stock worth $109,705,869. 38.55% of the stock is owned by company insiders.

Atlassian Stock Down 0.8%

Atlassian stock traded down $1.28 during mid-day trading on Tuesday, reaching $158.00. 5,758,007 shares of the company's stock were exchanged, compared to its average volume of 2,531,947. 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 Corporation PLC has a twelve month low of $139.23 and a twelve month high of $326.00. The company has a market cap of $41.48 billion, a P/E ratio of -159.59 and a beta of 0.96. The company has a fifty day moving average of $197.41 and a 200-day moving average of $224.37.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The company's revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Sell-side analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current 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.