Atlassian Corporation PLC (NASDAQ:TEAM) Holdings Boosted by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 16.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,586 shares of the technology company's stock after purchasing an additional 5,294 shares during the quarter. Atlassian makes up approximately 0.5% of Y Intercept Hong Kong Ltd's investment portfolio, making the stock its 18th largest position. Y Intercept Hong Kong Ltd's holdings in Atlassian were worth $7,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. OneAscent Wealth Management LLC bought a new position in Atlassian in the first quarter worth about $274,000. Allianz Asset Management GmbH raised its stake in shares of Atlassian by 431.2% during the 1st quarter. Allianz Asset Management GmbH now owns 79,493 shares of the technology company's stock valued at $16,912,000 after buying an additional 64,527 shares during the last quarter. Lindbrook Capital LLC grew its position in Atlassian by 12.5% during the first quarter. Lindbrook Capital LLC now owns 2,044 shares of the technology company's stock valued at $434,000 after buying an additional 227 shares during the period. Optimist Retirement Group LLC purchased a new position in shares of Atlassian during the 1st quarter valued at approximately $224,000. Finally, J.W. Cole Advisors Inc. lifted its position in shares of Atlassian by 24.5% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,929 shares of the technology company's stock valued at $1,046,000 after buying an additional 971 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

Atlassian stock traded down $2.69 during trading hours on Thursday, hitting $199.88. The stock had a trading volume of 1,077,075 shares, compared to its average volume of 2,320,156. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $52.47 billion, a price-to-earnings ratio of -120.41 and a beta of 0.94. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The stock's fifty day moving average is $204.67 and its two-hundred day moving average is $230.98.

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

Insider Activity

In other news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $206.80, for a total value of $1,643,646.40. Following the completion of the sale, the director directly owned 174,856 shares in the company, valued at approximately $36,160,220.80. The trade was a 4.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $222.47, for a total value of $1,768,191.56. Following the transaction, the chief executive officer owned 143,064 shares of the company's stock, valued at approximately $31,827,448.08. The trade was a 5.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 462,489 shares of company stock worth $95,907,417 over the last ninety days. Corporate insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays cut their target price on Atlassian from $260.00 to $244.00 and set an "overweight" rating for the company in a research note on Monday. Raymond James Financial reaffirmed an "outperform" rating and issued a $300.00 target price (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Mizuho lowered their price objective on Atlassian from $290.00 to $265.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Oppenheimer decreased their target price on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Five 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, Atlassian has an average rating of "Moderate Buy" and a consensus price target of $274.05.

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.