Braun Stacey Associates Inc. Takes $10.95 Million Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Braun Stacey Associates Inc. acquired a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 51,612 shares of the technology company's stock, valued at approximately $10,953,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Atlassian by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 882,578 shares of the technology company's stock worth $187,292,000 after purchasing an additional 123,805 shares during the period. Catalyst Capital Advisors LLC lifted its position in Atlassian by 6,404.9% in the first quarter. Catalyst Capital Advisors LLC now owns 8,001 shares of the technology company's stock worth $1,698,000 after purchasing an additional 7,878 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in Atlassian by 4.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,215 shares of the technology company's stock worth $1,743,000 after purchasing an additional 340 shares during the period. IFM Investors Pty Ltd lifted its position in Atlassian by 7.0% in the first quarter. IFM Investors Pty Ltd now owns 31,074 shares of the technology company's stock worth $6,594,000 after purchasing an additional 2,027 shares during the period. Finally, GF Fund Management CO. LTD. lifted its position in Atlassian by 1.7% in the first quarter. GF Fund Management CO. LTD. now owns 31,121 shares of the technology company's stock worth $6,604,000 after purchasing an additional 522 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $6.65 during mid-day trading on Friday, reaching $213.43. The company had a trading volume of 1,566,326 shares, compared to its average volume of 2,159,036. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock's 50 day moving average is $209.58 and its 200-day moving average is $235.45.

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 for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business posted $0.89 earnings per share. Atlassian's revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $225.64, for a total transaction of $1,793,386.72. Following the transaction, the chief executive officer directly owned 206,648 shares of the company's stock, valued at $46,628,054.72. This represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $211.30, for a total transaction of $1,679,412.40. Following the sale, the director owned 190,752 shares of the company's stock, valued at $40,305,897.60. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 410,815 shares of company stock worth $85,532,872 over the last three months. Company insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of research analyst reports. Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Stephens dropped their price target on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Canaccord Genuity Group dropped their price target on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $300.00 target price (down from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Jefferies Financial Group cut their price objective on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Four investment 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $282.19.

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.