Bank of New York Mellon Corp Purchases 123,805 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Bank of New York Mellon Corp lifted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 16.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 882,578 shares of the technology company's stock after purchasing an additional 123,805 shares during the quarter. Bank of New York Mellon Corp owned 0.34% of Atlassian worth $187,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEAM. JPMorgan Chase & Co. boosted its holdings in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after acquiring an additional 1,806,042 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian during the fourth quarter valued at $687,486,000. Invesco Ltd. increased its holdings in Atlassian by 265.9% in the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Atlassian by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after purchasing an additional 27,899 shares during the period. Finally, Voya Investment Management LLC increased 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 worth $528,693,000 after acquiring an additional 2,160,810 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $214.49, for a total value of $1,644,065.85. Following the transaction, the director owned 459,900 shares of the company's stock, valued at approximately $98,643,951. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $214.49, for a total value of $1,644,065.85. Following the completion of the sale, the chief executive officer owned 459,900 shares of the company's stock, valued at $98,643,951. This trade represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,249 shares of company stock worth $85,791,465 over the last quarter. Company insiders own 38.55% of the company's stock.

Atlassian Stock Performance

NASDAQ TEAM traded up $0.63 during trading hours on Wednesday, hitting $219.99. The company had a trading volume of 199,471 shares, compared to its average volume of 2,156,112. The firm has a market cap of $57.75 billion, a P/E ratio of -132.94 and a beta of 0.94. 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 fifty-two week low of $135.29 and a fifty-two week high of $326.00. The business has a fifty day simple moving average of $209.12 and a 200-day simple moving average of $234.94.

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

Analyst Ratings Changes

Several analysts recently weighed in on TEAM shares. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. UBS Group restated a "hold" rating on shares of Atlassian in a research note on Monday. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and reduced their price target for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Wells Fargo & Company dropped their price target 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. Finally, Macquarie dropped their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

Atlassian 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.