Cambridge Investment Research Advisors Inc. Purchases 1,259 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Cambridge Investment Research Advisors Inc. grew its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 42.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,240 shares of the technology company's stock after purchasing an additional 1,259 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Atlassian were worth $900,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TEAM. Clean Yield Group grew its holdings in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after buying an additional 93 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian in the 4th quarter worth $27,000. Colonial Trust Co SC lifted its holdings in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after buying an additional 69 shares during the period. Summit Securities Group LLC bought a new position in Atlassian during the fourth quarter valued at about $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 owned by institutional investors.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $213.97, for a total transaction of $1,640,080.05. Following the completion of the transaction, the director owned 467,565 shares in the company, valued at $100,044,883.05. This trade represents a 1.61% 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, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $213.97, for a total transaction of $1,640,080.05. Following the transaction, the chief executive officer owned 467,565 shares of the company's stock, valued at approximately $100,044,883.05. This represents a 1.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 402,867 shares of company stock valued at $84,057,644. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 1.2%

Shares of NASDAQ TEAM traded up $2.52 during mid-day trading on Monday, reaching $216.05. The company had a trading volume of 2,102,601 shares, compared to its average volume of 2,158,809. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $56.72 billion, a PE ratio of -130.15 and a beta of 0.94. 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 issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The firm's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. As a group, equities analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent research reports. KeyCorp cut their price objective on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Mizuho cut their price objective on Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research report on Thursday, June 12th. Macquarie cut their price objective on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Barclays cut their price objective on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Truist Financial cut their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price 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.