Atlassian Corporation PLC (NASDAQ:TEAM) Shares Bought by Diversified Trust Co

Diversified Trust Co increased its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 40.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,925 shares of the technology company's stock after buying an additional 6,044 shares during the quarter. Diversified Trust Co's holdings in Atlassian were worth $4,440,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clean Yield Group increased its stake in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian during the 4th quarter valued at $27,000. Colonial Trust Co SC raised its stake in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian during the fourth quarter valued at about $39,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Up 0.1%

Shares of NASDAQ TEAM opened at $198.50 on Friday. The business has a 50 day simple moving average of $209.89 and a 200 day simple moving average of $238.82. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market cap of $52.11 billion, a price-to-earnings ratio of -119.58 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Jefferies Financial Group reduced their target price on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a report on Monday, April 7th. Wells Fargo & Company decreased their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Canaccord Genuity Group cut their price objective on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Morgan Stanley reduced their price objective on Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $282.19.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $229.59, for a total transaction of $1,824,781.32. Following the completion of the sale, the chief executive officer now directly owns 222,544 shares of the company's stock, valued at approximately $51,093,876.96. This represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gene Liu sold 541 shares of Atlassian stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the completion of the transaction, the chief accounting officer now owns 51,481 shares in the company, valued at $11,609,480.31. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 388,669 shares of company stock worth $80,949,405 over the last three months. Corporate insiders own 38.55% of the company's stock.

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.

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