Cambridge Investment Research Advisors Inc. Has $900,000 Stock Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Cambridge Investment Research Advisors Inc. grew its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 42.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,240 shares of the technology company's stock after acquiring 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 filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in Atlassian during the 4th quarter worth $687,486,000. Voya Investment Management LLC grew its stake in Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after buying an additional 2,160,810 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after buying an additional 1,806,042 shares during the last quarter. Invesco Ltd. grew its stake in Atlassian by 265.9% during 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 during the last quarter. Finally, Durable Capital Partners LP grew its stake in Atlassian by 499.7% during the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock worth $383,456,000 after buying an additional 1,312,820 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on TEAM. Raymond James Financial reissued an "outperform" rating and issued a $300.00 price target (down previously from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Mizuho decreased their price target on Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research note on Thursday, June 12th. Macquarie decreased their price target on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Truist Financial decreased their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Jefferies Financial Group decreased their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.19.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $209.19, for a total transaction of $1,662,642.12. Following the transaction, the chief executive officer directly owned 158,960 shares of the company's stock, valued at approximately $33,252,842.40. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total value of $1,643,646.40. Following the transaction, the director directly owned 174,856 shares in the company, valued at $36,160,220.80. The trade was a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 410,249 shares of company stock worth $85,791,465. Corporate insiders own 38.55% of the company's stock.

Atlassian Trading Down 9.4%

Shares of NASDAQ TEAM traded down $20.84 during mid-day trading on Thursday, hitting $200.05. 3,764,849 shares of the company traded hands, compared to its average volume of 2,169,586. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market capitalization of $52.52 billion, a price-to-earnings ratio of -120.51 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. The business has a 50 day moving average of $208.97 and a two-hundred day moving average of $234.84.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share 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 for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the company posted $0.89 EPS. The company's quarterly revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

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.