China Universal Asset Management Co. Ltd. Raises Position in Atlassian Corporation PLC (NASDAQ:TEAM)

China Universal Asset Management Co. Ltd. lifted its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,950 shares of the technology company's stock after purchasing an additional 1,822 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Atlassian were worth $2,324,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in Atlassian by 37.7% in the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after buying an additional 101 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Atlassian by 42.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock valued at $900,000 after purchasing an additional 1,259 shares in the last quarter. Amalgamated Bank increased its stake in Atlassian by 6.1% in the first quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock valued at $2,411,000 after purchasing an additional 650 shares in the last quarter. LPL Financial LLC increased its stake in Atlassian by 93.4% in the fourth quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after purchasing an additional 24,891 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in Atlassian in the first quarter valued at $252,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Performance

Shares of TEAM stock traded up $3.31 during trading on Tuesday, reaching $219.36. 2,538,752 shares of the company's stock traded hands, compared to its average volume of 2,160,326. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year 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 company has a market capitalization of $57.58 billion, a P/E ratio of -132.14 and a beta of 0.94. The firm's 50-day moving average is $209.30 and its 200 day moving average is $235.05.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its 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 business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the prior year, the company posted $0.89 EPS. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $214.49, for a total transaction of $1,644,065.85. Following the sale, the chief executive officer owned 459,900 shares in the company, valued at approximately $98,643,951. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $214.49, for a total transaction of $1,644,065.85. Following the sale, the director owned 459,900 shares in the company, valued at approximately $98,643,951. This trade represents a 1.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 418,197 shares of company stock worth $87,345,775. Corporate insiders own 38.55% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Truist Financial decreased their price target on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Raymond James Financial reaffirmed an "outperform" rating and issued a $300.00 price target (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Jefferies Financial Group decreased their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Canaccord Genuity Group decreased their price target on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Four equities 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 data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and an average 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.