Atlassian Corporation PLC (NASDAQ:TEAM) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. boosted its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,767 shares of the technology company's stock after acquiring an additional 1,674 shares during the quarter. Bessemer Group Inc. owned 0.12% of Atlassian worth $65,310,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Adams Diversified Equity Fund Inc. acquired a new stake in Atlassian in the first quarter valued at approximately $13,263,000. Lecap Asset Management Ltd. raised its holdings in Atlassian by 151.0% in the first quarter. Lecap Asset Management Ltd. now owns 6,037 shares of the technology company's stock valued at $1,281,000 after acquiring an additional 3,632 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Atlassian by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 71,961 shares of the technology company's stock valued at $15,271,000 after acquiring an additional 3,735 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Atlassian by 76.7% in the first quarter. Oppenheimer & Co. Inc. now owns 3,873 shares of the technology company's stock valued at $822,000 after acquiring an additional 1,681 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Atlassian by 2.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 25,263 shares of the technology company's stock valued at $5,361,000 after acquiring an additional 693 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 7,674 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were 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 owns 192,260 shares in the company, valued at $43,356,552.60. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the sale, the director now directly owns 333,816 shares in the company, valued at approximately $61,959,587.76. This represents a 2.33% 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. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Performance

Shares of TEAM stock traded up $3.82 during mid-day trading on Friday, hitting $202.32. The stock had a trading volume of 2,463,283 shares, compared to its average volume of 2,148,495. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market cap of $53.11 billion, a PE ratio of -121.88 and a beta of 0.96. 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 company's 50-day simple moving average is $209.79 and its 200-day simple moving average is $237.32.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TEAM. UBS Group reduced their target price on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Morgan Stanley reduced their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Truist Financial lowered their target price on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. Stephens cut their price target on shares of 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, Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price objective for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently 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.